A regional trucking firm with a terminal in Concord has declared bankruptcy, shaking up what is known as the “less-than-truckload” freight industry.
New England Motor Freight, based in New Jersey, filed for Chapter 11 bankruptcy last week, citing two years of losses from clients as big as Amazon. Filing Chapter 11 usually means that the company plans to keep going in some form but New England Motor Freight said it would use the bankruptcy “to facilitate an orderly wind-down of its operations.”
New England Motor Freight specializes in moving relatively small loads, with multiple customers in each trip. Such systems are more complex and often have higher operating costs than trucking firms that stick to larger loads.
The bankruptcy filing came as a surprise to employees, according to news reports. A class-action lawsuit is being prepared, claiming that the shutdown did not meet federal guidelines for warning employees that the company was shutting down, and that the firm has not paid full wages including vacation time.
New England Motor Freight lists 39 trucking terminals in 16 Northeast states, including a terminal at 118 Hall St., near Exit 12 of I-93, in Concord.
New England Motor Freight is owned by the parents of Nancy Shevell, who is married to ex-Beatle Paul McCartney. She is a vice president of the company. The company was founded in 1977.
