CFL, A 96-Year-Old Freight Company, Just Went Under. The Scary Truth About the Future for Carriers.
If our headline seems melodramatic, that’s only because the news hasn’t covered this nearly enough. Central Freight Lines, also known as CFL, was founded in Waco, Texas in 1925. Nearly a century later in 2020, it won the title of Carrier of the Year from GlobalTranz. Yet, despite 96 years of excellence and expertise, just announced that they’re ceasing operation.
The logistics giant stopped picking up freight on December 13, and aimed to make all remaining deliveries by the 20th. While BYX is alive and well, the downfall of CFL is proof that no LTL carrier is immune to the effects of driver shortages and rapidly rising expenses.
Where did CFL go wrong?
Truth be told, it didn’t. The climate for logistics companies has turned increasingly volatile. The company’s announcement may come as a shock, but in reality, it came after years of struggling to remain profitable. Jerry Moyes, CFL’s owner, took up the reigns as CFL’s interim president and CEO in July, 2021 in an attempt to reduce expenses, pouring as much money into it as he could, but it simply wasn’t enough. Read more