CF auctioning 23 facilities
May 7, 2003 12:00 PM
Bankrupt LTL carrier Consolidated Freightways (CF) is placing 23 facilities for sale to the highest bidder, through an open auction process scheduled for May 21. The company is also selling a fully restored 1947 Freightliner truck and trailer. CF closed 220 total properties with an appraised value over $400 million on September 3, 2002, when the company filed for bankruptcy protection. Since then CF has been liquidating the assets of the corporation under orders of the bankruptcy court. CF has sold 68 properties throughout the U.S. for $176 million. The bankruptcy court has approved and ordered a separate sale of equipment
