WACO, Texas – Jon Krause has been with the company for the past 45 years. His desire to make it to 50 years is sadly a milestone he won’t accomplish.
Today, Central Freight Line employees returning to work were locked out of the nearly 100 year old company.
The company announced it still had freight to deliver Monday, but employees returned to work today to find they were denied access.
Krause heard about the lockout and had to come see for himself.
“It’s sad, we are not provided all the information of why this took place,” Krause said. “The employees thought that we could keep going, cause we do a lot of business and people like us. People in the head office I guess they know more than we do.”
Central Freight Lines said in a statement:
“The Company explored all available options to keep operations going. However, operating losses sapped all remaining sources of liquidity, and the Company`s liabilities far exceed its assets, all of which are subject to liens in favor of multiple creditors. Despite diligent efforts, the Company was unable to gain commitments to fund ongoing operations, find a buyer of the entire business, or fund a Chapter 11 reorganization.“
“There were some indications that we were having a hard time as far as debt and stuff but we just assumed that we weathered it all these years, and we would weather it again,” Krause said.
The closure of the company has left over 2,000 people laid off.
Recruiters stopped by the facility on Tuesday, some with business cards, to help get the displaced workers employed.
As for 72 year old Krause, his trucking career might be hitting the brakes.
“I’m probably done driving trucks. I kept doing it because I liked the company and I liked the customers I dealt with and I’m going to miss them,” Krause said.
The story on FOX 44 Facebook page has generated several comments from other employers offering jobs immediately.