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Allied Systems Files for Bankruptcy Protection
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June 12, 2012 | The Teamsters Union will continue to closely monitor Allied's financial restructuring efforts after the company announced June 10 a new Chapter 11 bankruptcy filing to carry out a financial restructuring at reducing its debt. "We will have a team of experts…to advise the union and keep our members informed through the process," said Roy Gross, Director of the Teamsters Car Haul Division. "Our message to our members remains the same: keep working as usual." The company's move comes after two NY hedge funds tried to take control of Allied by filing involuntary Chapter 11 proceedings against it last month. Read the full IBT statement here. Allied says its terminals and locations will continue to operate as usual, and employees will continue to be paid without interruption: Truckinginfo.com
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