Melville, N.Y., based Bouchard Transportation Co., whose current troubles have actually been well-publicized, claims that it has actually been “able to close on financing to start paying back vessel wages and meet other outstanding indebtedness, necessary to meet all our obligations.”
Following is the message of a letter sent out to team, clients as well as suppliers by President as well as Chief Executive Officer Morton S. Bouchard III
To Bouchard Valued Staff, Customers as well as Vendors:
The past 2 months,Bouchard Transportation Co Inc has actually been confronted with massive obstacles both economically as well as operationally.
Bouchard has the very best yank as well as intrude the market sustained by the finest vessel staff members, consultants as well as administration.
Over the weekend break Bouchard had the ability to shut on funding to begin repaying vessel salaries as well as fulfill various other impressive bankruptcy, required to fulfill all our commitments.
This can not be much better information.
Last week I mored than happy to notify you thatBouchard Transportation Co Inc was released a DOC for 90 days.
And currently with funding in position and also as most of us concentrate on maintaining the business, I want to guarantee every person that we will certainly remain to function in the direction of returning the business to totally satisfying the high assumptions of our customers, suppliers as well as valued staff members.
I wish to thanks all.
Mort Bouchard
