“Last March to around September, LandAir was so backed up due to the loss of longtime employees that they had freight sitting for months and found freight that had been missing for a year or more,” one former employee said.
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Service disruptions because of driver and employee turnover led to customers leaving LandAir for other LTL carriers, former employees said. “We have not been financially stable in two years and have been trying to stay afloat by not paying vendors.” “We all saw it coming since they bought the company three years ago and Will was placed as the CEO,” a former LandAir employee, who didn’t want to be identified, told FreightWaves. Sources say Keresey, who was brought on board three years ago by Corbel Capital to “right the ship,” did the exact opposite and claimed he and other executives “ran the LTL carrier into the ground.” Management ran LTL carrier ‘into the ground’ LandAir is not associated with Greeneville, Tenn.-based Landair Holdings, including Landair Transport and Landair Logistics, which was acquired by Covenant Logistics Group, Inc. In May, the company announced it was expanding its LTL service offerings to include New Jersey, Long Island and New York City. The company, originally called Allied Air Freight, was founded by Fred Spencer in 1968.Īccording to LandAir’s website, the hazmat hauler had 450 employees at 11 service centers in the U.S., as well as service centers in Ottawa, Ontario, and Toronto.
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The 54-year-old trucking company, North East Freightways, doing business as LandAir, had 135 drivers and 148 power units, according to the Federal Motor Carrier Safety Administration’s SAFER website. Vermont requires all employers closing or conducting a mass layoff of 50 or more employees to provide a 45-day notice before the effective date of a closing or layoff.įederal law also requires most employers with 100 or more employees to provide at least 60 days’ written notice of a pending closure. In a statement, Kyle Thweatt, spokesman with the Vermont Department of Labor, confirmed late Thursday that the agency is aware of the situation at LandAir but “has not received notification from the company” about the closure.Īccording to the Vermont Joblink database, LandAir had not filed a Worker Adjustment and Retraining Notification (WARN) Act notice with the state of Vermont prior to the sudden closure. Brian Yoon, principal of Corbel Capital Partners, did not return FreightWaves’ request seeking comment. The company, owned by private equity firm Corbel Capital Partners, headquartered in Los Angeles, has yet to issue a statement about the closure. Keresey III, chief executive officer of LandAir, did not respond to FreightWaves’ repeated requests for comment about the closure.Ĭurtis Garrett, chief strategy officer of Reconex, headquartered in Englewood, Colorado, said sources told him Tuesday that LandAir’s private-equity firm made the decision to pull the plug and shut down the LTL carrier. EDT on Tuesday that they no longer had jobs and the carrier was winding down operations by Friday, the source said.Īs of publication, William M. Management notified truck drivers and service center personnel via a Zoom video call around 4 p.m. One former LandAir employee, who spoke to FreightWaves on the condition of anonymity, said the company’s customer service and sales teams were the first to be laid off Tuesday. Three days after nearly 450 employees, including 135 drivers, were laid off - some found out via a Zoom video call - Williston, Vermont-based LandAir’s management team and its private equity owners remain silent on what led to the decision to pull the plug on the 54-year-old LTL carrier.įreightWaves broke the story that employees of the LTL carrier that serviced the Northeast and parts of Canada were blindsided when they were unable to log in to their computers Tuesday morning and truck drivers were notified the company would no longer be making pickups.
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