Bouchard states it has actually shut on funding

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Melville, N.Y., based Bouchard Transportation Co., whose current issues have actually been well-publicized, states 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 personnel, consumers and also suppliers by President and also Chief Executive Officer Morton S. Bouchard III

To Bouchard Valued Staff, Customers and also Vendors:

The past 2 months,Bouchard Transportation Co Inc has actually been confronted with massive difficulties both economically and also operationally.

Bouchard has the most effective pull and also intrude the market sustained by the ideal vessel workers, experts and also monitoring.

Over the weekend break Bouchard had the ability to shut on funding to begin repaying vessel incomes and also fulfill various other superior debt, required to fulfill all our commitments.

This might not be far better information.

Last week I mored than happy to educate 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 firm, I want to guarantee every person that we will certainly remain to function in the direction of returning the firm to completely satisfying the high assumptions of our customers, suppliers and also valued workers.

I intend to thanks all.

Mort Bouchard

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