Retail Industry
Industry: Email Alert RSS FeedIDC to liquidate assets after ICC insurance ruling. (International Distribution Centers, Interstate Commerce Commission)
Daily News Record, July, 1986 by Wilner, Rich
IDC to Liquidate Assets After ICC Insurance Ruling
International Distribution Centers (IDC), Inc., has been forced by the Interstate Commerce Commission to close its doors as an interestate trucker of garments on hangers due to a lack of insurance.
IDC, which had been reorganizing under Chapter 11 since filing its petition last July 15, will now seek to liquidate its assets, according to Gerald Eskow, president.
The company has arranged for another trucker to service its clients. It has entered into a court-approved stipulation that permits it to lease all its vehicles to New England Motor Freight (NEMF).
NEMF has also hired all of IDC's drivers, platform workers and some office workers, according to Eskow, and has purchased for...
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