CALGARY, Alta. — TCT Logistics is about to announce it will go into receivership as of this afternoon.
Rumors of the troubled fleet’s operation have been swirling around Western Canada’s trucking community for almost a week with most indicating the company would close its doors later today.
“Nope that’s a lie,” a source at Tri-Line Transportation told Truck West at noon local time today. Tri-line is a fleet controlled by TCT. “We’ve gone into receivership. They’ve assigned a group of people and, as we speak, they’re going to be making that announcement.”
For TCT drivers and owner/operators, the source explains, the receiver will guarantee their wages. As the fleet spiraled to this financial conclusion, a number of cheques were reported to have been bounced along the way.
“That has occurred,” confirms the source, “and it will be in the hands of the receiver as to whose (bad cheque) gets replaced and whose doesn’t.”
KPMG’s Brian Tripka is said to be acting as the interim receiver.
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