North America's second-largest car hauler files bankruptcy

| 1/30/2006

There has been more trucking industry fallout from the financial problems facing the Big Three automakers.

Performance Transportation Services Inc., which hauls new vehicles to dealers, has filed for Chapter 11 bankruptcy. Based in Wayne , MI , the company employees 2,000 people at its three operations: E&L Transport, Hadley Auto Transport and Leaseway Motor Car Transport.

CEO Jeff Cornish declined to record an interview for “Land Line Now” but in e-mail correspondence said the company remains open for business, with all its assets intact. Cornish said no employees are being laid off, as there continues to be a need for their services – hauling new vehicles to dealers across the country.

According to company materials, Performance Transportation Services is the second-largest transporter of new cars and light trucks in North America. And, PTS has announced it has signed new hauling contracts with Nissan and Toyota .

“The percentage of business we do with each car company may change as market shares change,” Cornish stated in his e-mail to “Land Line Now.”

– By Mike Throop, staff writer