Trucking giant Celadon is declaring bankruptcy this week, inside sources told FreightWaves on Dec. 6.It's poised to be the largest truckload bankruptcy in history.The bankruptcy has the potential to leave more than 3,200 truck drivers stranded and away from home.Numerous Facebook groups have been set up to help stranded Celadon truck drivers connect to others.Visit Business Insider's homepage for more stories.The trucking "bloodbath" of 2019 is ending on a remarkably sour note.Celadon, a truckload carrier that grossed $1 billion as recently as 2015, will file for bankruptcy on Dec. 11 or earlier, inside sources told leading industry publication FreightWaves on Dec. 6.It's poised to be the largest truckload bankruptcy in historyand its drivers are already getting slammed.Read more: Truckers can't pay off their fuel cardsand it's a 'sure sign' that more trucking bankruptcies are comingThe bankruptcy has the potential to leave more than 3,200 truck drivers stranded and away from home. Sources told Business Insider that Celadon truck drivers' fuel cards are already getting turned off, which means they're unable to get home without spending serious cash on gas or arranging their own transport by car, plane, or bus.An internal source confirmed to FreightWavesthat the company may not be able to get drivers home on time, and encouraged them to fill their tanks as soon as possible.Numerous Facebook groups have been set up to help stranded Celadon truck drivers connect to others, including Celadon Closure Assistance and Jobs. Celadon did not immediately respond to a Business Insider request for comment.2019 has been a challenging year for truck drivers and their employers.In the first half of the year, about 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the number of bankruptcies from the same period last yearabout 175.Read more: Another 1,000 truck drivers lost their jobs in November, and it's a chilling sign for the economyACT Research said America's $800 billion trucking market has been in a recession since early 2019. Freight volumes have declined for 11 straight months. Manufacturing, which tracks the trucking industry, has contracted for four straight months.However, the source of Celadon's troubles dates back further than 2019. On Dec. 5, the Securities and Exchange Commission charged two former Celadon executives following a multi-year accounting scandal. The alleged fraud resulted in shareholder loss of more than $60 million.That plunged Celadon's stock to 41 cents a share on Fridaya considerable tumble from the high $20s per share that the stock was worth in 2015 before the accounting scandal became public knowledge.This is a developing story. Check back here for updates.Are you a Celadon truck driver who is at risk for being stranded' Email rpremack@businessinsider.com.Read more about the trucking recession of 2019:America's largest truck-engine manufacturer just announced 2,000 layoffsand it's another sign of the trucking 'bloodbath' that's slamming the $800 billion industryTruckers are becoming more and more pessimistic about the US economyTruckers can't pay off their fuel cardsand it's a 'sure sign' that more trucking bankruptcies are coming'I don't know how long I can stay in business': Truckers' fears have soared to recession-level highsTruckers say Amazon's new logistics empire is being underpinned by low, 'ridiculous' ratesand some are refusing to work with themThe leading industry group for truck drivers has declared we're hurtling toward a trucking 'bloodbath'Join the conversation about this storyNOW WATCH: What it takes to be a first-class flight attendant for Emirates
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