After closing without notice in early December, Akron, Ohio-based GDS Express has filed for bankruptcy. The company filed for Chapter 11 liquidation on Dec. 27, 2019, citing the shutdown of a revolving credit account.
Cost Cutting, Lower Rates Keep Brokers Profitable
Gross margins and revenues were down for freight brokers in the third quarter of 2019, but cost reductions and lower rates allowed them to stay profitable.