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Turmoil in Trucking: Why Major Companies Are Closing Down
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Turmoil in Trucking: Why Major Companies Are Closing Down

The trucking industry has been hit hard by multiple crises over the past five years, leading to the closure of several major companies. These challenges include a global pandemic, high fuel prices, severe weather, increased regulations, and a significant freight market slowdown. Notably, companies like Yellow, Celadon, and LME Inc. have faced bankruptcy and shut down, resulting in thousands of job losses. Factors contributing to these closures range from financial mismanagement and legal issues to labor disputes and failed restructuring plans. The situation underscores the volatile nature of the trucking industry and the impact of external pressures on business sustainability.

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