Alterman announces liquidation plans
Dec 5, 2002 12:00 PM, Gary MacklinEnding 64 years that began with one truck and will finish with more than 600 tractors and 1,000 trailers, Alterman Transport Lines, Opa Locka FL, has announced that it will cease operations and liquidate assets as of February 3, 2003. The company was founded and managed by Sidney Alterman until his death in 2000. Under his guidance, Alterman Transport grew into a nationwide carrier specializing in refrigerated LTL. The company has 14 terminals throughout the US, including seven in FL. Approximately 900 employees will be affected by the closure.
Richard Alterman says the company has sustained operating losses for the past several years and recently had been actively seeking a buyer for company assets. After careful examination of alternatives, he says that liquidation seems the most viable strategy. The company’s primary assets are real estate and operating equipment. The real estate will be sold and the equipment will be auctioned by Taylor and Martin at Alterman terminals in Charlotte NC, and Tampa and Opa Locka FL in February.
Alterman has notified its customers and has assured them that current deliveries will be completed on schedule. The company will stop accepting freight on December 20, 2002. It also will try to assist customers in finding carriers to serve their needs.