Bankruptcies in the trucking industry lower than ever
Trucking companies have something to celebrate this quarter. The Avondale Partners survey group found that trucking bankruptcies have decreased significantly, which may show that the industry is on the mend despite uncertain economic times.
In 2008, the entire country experienced a tough recession, with many companies having to file bankruptcy, including those in the trucking industry. Since then, truck businesses have been slowly recovering. This quarter, only a fraction of the companies filed bankruptcy compared to previous years.
"If [fleets] made it this far through the tough times, then they can make it through the better times," Donald Broughton, analyst for Avondale Partners, said in a statement. "At the risk of overstating the obvious, the 2007 through 2010 time frame was extremely tough on the trucking industry."
Despite the issues in trucking, the demand for drivers is still on the rise. Truckers who have recently completed their CDL training can be assured that there are opportunities out there for employment, and the overall industry does seem to be on the mend for the better.
Friday, November 11th, 2011
Trucking companies have something to celebrate this quarter.