Bankrupt Matlack to cease operations by the end of the month
WILMINGTON, Del. (August 17, 2001) — Matlack Systems, one of North America’s largest chemical haulers, will close by the end of the month and liquidate, according to a company filing with the Securities and Exchange Commission.
In March, the company filed a petition in Delaware seeking protection under Chapter 11 of the Federal Bankruptcy Code.
The company has 53 terminals in the United States and three in Canada, located in Vancouver, Leduc, Alta., and Sarnia, Ont. It employs 1500.
To date this year, the company has lost $11.6 million US.
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