An Important Update on the New England Motor Freight Bankruptcy and its Impact
Feb 13, 2019
In this week’s video we address a very important subject—companies who say they want to reduce their freight costs frequently overlook addressing internal factors that affect those costs.
But, as they often say on TV, we interrupt this broadcast to address something more immediate—this week the logistics industry was shaken by New England Motor Freight’s surprise filing for bankruptcy.
In response to all the questions we have received, here is what we've learned most recently:
- NEMF stopped pick-ups this past Monday afternoon
- Terminals will remain open until freight is delivered
- Sales personnel’s last day is this Friday
- Operations and Customer Service will remain in place until freight clears the network
- NEMF website has all terminal contact information and PRO# tracking
For more insight, read this update from Wolfe Research Group that we gained permission to share with this audience.
I also encourage you to read this article inLogistics Management, "In stunning development, NEMF and 10 related subsidiaries declare bankruptcy" where they asked for my thoughts on how NEMF’s bankruptcy will impact the nationwide LTL network.
We hope you have contingency plans in place—that’s a huge part of this week’s video—and if you need help with this, please give us a call at 630-833-0890 or send us an email.
One more way to get help: we have a webinar coming up that will identify ways for shippers to be ready for disruptions in their supply chain, whether those disruptions are carriers closing their doors, natural disasters striking, or seasonal variances.
Mark Your Calendar for a New Webinar - Wednesday, March 6th at 11am CST
The upcoming "Rebuilding After the Storm" webinar will offer comprehensive insights on how you can successfully plan for the future.
This webinar will be hosted in conjunction with CSCMP and NASSTRAC and take place on March 6th at 11am CST. Recent events only underscore how important it is for you to be there!
In the meantime, if you have any questions or thoughts, give us a call at 630-833-0890 or send us an email. We’re on your team, here to help and passionate about seeing you be successful.