Happy Labor Day from
Consolidated Freightways!
VANCOUVER, Wash. -- Consolidated Freightways Corp., a 73-year-old trucking company, said Monday it was filing for Chapter 11 bankruptcy protection and laying off as many as 15,500 people around the country.
The company's stock had tumbled since it requested an extension in filing its second-quarter earnings two weeks ago and announced that it might be de-listed from the Nasdaq stock market.
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Hundreds of employees had shown up for work at Consolidated Freightways offices Monday, only to find the offices locked. In a recorded telephone message, Chief Executive John Brincko told them not to show up Tuesday.
