Jevic Transportion Files for Chapter 11 Bankruptcy

Description:
Jevic Transportation, a Delanco, N.J.-based trucking company owned by Sun Capital Partners, has shut down and filed for Chapter 11 bankruptcy protection. Jevic also asked court permission to borrow up to $60 million from CIT.

The move has already resulted in job losses for around 90% of the company's 1,500 employees. Sun had paid around $40 million to carve the company out of SCS Transportation in 2006. www.jevic.com