Transportation Industry
Cannon Express Shuts Down, Files Chapter 7 Bankruptcy
Transport Topics, May, 2004 by Malloy, Michael G
Truckload carrier Cannon Express closed its doors and went out of business, a lawyer representing the company said.
Attorney James Dowden said that Cannon, of Springdale, Ark., would switch its bankruptcy filing to Chapter 7 liquidation from Chapter 11 reorganization at a June 7 hearing in U.S. Bankruptcy Court in Fayetteville, Ark. The company said in December that it would file for Chapter 11 bankruptcy protection (12-8, p. 3).
"A trustee will be appointed to liquidate what assets are left," Dowden told TRANSPORT TOPICS May 18.
Cannon's Web site and phones were down in early May and the company could not be reached for comment, but Lane Kidd, president of the Arkansas Trucking Association, said May 18 that "Cannon is for all practical purposes out of...
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