Atkinson Freight Lines shutting down due to market conditions, including low rates, high fuel and toll bridge costs, CEO says
GRAIN VALLEY, Missouri
February 23, 2012
(Land Line Magazine)
– In the past few months, several trucking companies have announced they are closing their doors.
On Friday, Feb. 17, a family-owned fourth-generation trucking company, Atkinson Freight Lines of Bensalem, PA, ceased operation after 127 years.
Stunned drivers were told to clean out their trucks on Friday. They had received a letter from Joseph B. Atkinson III, chairman and chief executive officer, a few days earlier warning them that “we are near the end of the road.”
In the letter, Atkinson stated that “things have really changed” in the past five years.
“At $4 per gallon for fuel, insane toll bridge costs and low rates, the market is forcing these actions; it’s killing trucking, it’s killing me. It’s not fun.”
“The American truck driver no longer has the respect from the market, and that is sad,” the letter stated.
A meeting with drivers is scheduled for Feb. 26 to discuss their pension plan.