Moore Freight files for bankruptcy protection » Knoxville News Sentinel
A local shipping company that gained national recognition for its rapid growth has filed for bankruptcy protection.
In a Chapter 11 petition filed last week, Moore Freight Service
estimated that both its assets and liabilities fall in a range between
$10 million and $50 million, but did not give specific figures.
Moore Freight is based in the Eastbridge Business Park, in Mascot,
and specializes in hauling sheets of glass. Founded in 2001, the company
in 2010 bought 11 acres in the park for an expansion, and earlier this
year was recognized as one of 16 Knoxville-area companies on the Inc.
5000 list, which highlights the fastest-growing private companies in the
U.S.
The CEO of this company is corrupt for sure. He began his with the best of intentions and then he let greed and blind ambition make his business decisions for him. The CEO had many accounting firms tell him he was growing too rapidly and instead of heeding their advice he fired them because they did not tell him what he wanted to hear and in turn hired incompetent people who would do as he asked.
ReplyDeleteThere is not one person in a leadership position that has an ounce of business sense in them. Flagrant spending and a lack of accountability is what have driven this company to the current position it is in - not the economy and the so-called embezzlement that the CEO passes blame on. With a bit of investigation one might be very surprised by some of the things that are learned of its shady business dealings and treatment of its employees. Perhaps one should check into the selling of company shares to save a certain someone from being involved in the bankruptcy filing. Step up Mr. CEO - do the Christian thing and take accountability of your company’s failure due to your own ignorance!You sure had alot to say when you were on top where are your bragging rights now??