Celadon looks to hire Ritchie Bros. to sell tractor and trailer fleet

By Caroline Salls

Pittsburgh, Feb. 11 – Celadon Group, Inc. requested court approval to hire Ritchie Bros. Auctioneers (America) Inc. as the auctioneer and broker for the sale of the company’s fleet, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The company said the Celadon debtors operated their business using a fleet of 13,300 tractors and trailers. Of this fleet, the debtors own 350 tractors and 1,800 trailers, most of which are in the United States and some of which are in Canada.

Given the numbers of tractors and trailers in the fleet and the specialized market for those tractors and trailers, the company said it determined that the most efficient method for disposing of the fleet would be with the assistance of an auctioneer.

Under its sales agreement, Celadon said Ritchie will ready the fleet for sale and dispose of it through any combination of commercial sales, arms’ length transactions, public unreserved auctions and online sales.

In exchange for its auction and broker services, Celadon will pay Ritchie a commission of 8.25% of the gross sale price for each item, plus a cost premium and transaction fee.

Celadon provides long haul, regional, local, dedicated, intermodal, temperature-protected and expedited freight service and is based in Indianapolis. The company filed bankruptcy on Dec. 9 under Chapter 11 case number 19-12606.

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