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Monday, May 19, 2008

Sun Capital shuts Jevic trucking

  Innovative trucking firm Jevic Transportation Co., Delanco, has closed, citing higher costs. The shutdown idles 1,900 at Burlington County's biggest blue-collar employer (that count according to the county's last bond prospectus in March). Inquirer story here. Release here.
  That's just a month after Jevic announced new "investments" and changes to its business model. Release here.
  Jevic is owned by Sun Capital Partners of Boca Raton, one of the private-equity outfits that's been looking to buy one of Camden County's biggest employers, Shapes/Arch Holdings.

Posted by Joseph N. DiStefano @ 2:02 PM  Permalink | 2 comments
Comments   
  • 0 like this / 0 don't   •   Posted 8:49 AM, 05/22/2008
    JEVIC TRANSPORTATION IS BOUNCING PAYCHECKS
    — chainsofroses
  • 0 like this / 0 don't   •   Posted 9:29 AM, 05/22/2008
    That's really disturbing. Can you tell us more? My colleague Maya Rao 856-779-3220 has been covering the story. Her article in today's Inquirer says Jevic is being accused of failing to give federally-required notice they were getting ready to shut down.
    — distefj


2 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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