BOB (EX P.I.E DRIVER FONTANA) said...
Published: December 18, 1990
PIE International announced it would handle freight through the end of the month before a bankruptcy trustee begins selling off the assets of the failed trucking line. On Saturday, United States Bankruptcy Judge George Proctor approved the company's plans to shut down operations and liquidate assets to pay off the company's debts.
PIE has been struggling since it and its parent company, the Olympia Holding Corporation of Miami, filed for protection from creditors under Chapter 11 of the Federal bankruptcy laws two months ago. PIE listed debts of $237 million and assets of $169 million. Before the filing, PIE operated 230 terminals and employed 3,500 workers.( AND WAS NOT CLOSE BY THE TEAMSTERS BUT BY POOR MANAGEMENT.)
May 3, 2007 9:49 PM
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