Posted by Ian: Last fall, MacKinnon Transport of Guelph purchased long-established Elgin trucking firm, Walker Transport. In January of 2010, Walker filed for creditor protection, this after laying off 30 drivers the week before Christmas. Obviously the family-run business, originally based in Aylmer, caught the attention of MacKinnon and so the merger proved attractive. It’s hard to imagine Walker’s value deteriorated so quickly. Or do you pick off the attractive fruit from the tree and leave the rest to rot. Kyle Rea had the following update in the Times-Journal (see below), and more background is available here and a further backgrounder, including an interview with MacKinnon President and CEO Evan MacKinnon can be found here . Here’s Kyle’s story …
A trucking company with long roots in the St. Thomas area, acquired last year by a Guelph-based business, has filed for bankruptcy.
On Dec. 3, the CIBC bank called in its loan for L.E. Walker Transport Ltd., — five days later, the company filed for creditor protection and remained that way until its assets were purchased by MacKinnon Transport Inc., of Guelph, Ont., on Jan. 8.