A 40-year-old California trucking company is shuttering as soaring insurance premiums and tumbling rates slam the industry — and 132 truck drivers will lose their jobs

Rodgers Trucking, which employs about 130 truck drivers in Northern California, is shuttering after 40 years in operation.The company said in a notice filed with the state of California that it would permanently close by April 30.A company representative declined to comment. Visit Business Insider’s homepage for more stories. After a 2019 that truck drivers described…

A 40-year-old California trucking company is shuttering as soaring insurance premiums and tumbling rates slam the industry — and 132 truck drivers will lose their jobs

Rodgers Trucking, which employs about 130 truck drivers in Northern California, is shuttering after 40 years in operation.The company said in a notice filed with the state of California that it would permanently close by April 30.A company representative declined to comment. Visit Business Insider’s homepage for more stories.

After a 2019 that truck drivers described as a “bloodbath,” challenging conditions are slamming the trucking industry yet again.Rodgers Trucking said in a notice filed with the state of California that it would shutter by April 30 after 40 years in operation. Some 135 employees will lose their jobs as a result of the closure. The company employs 132 truck drivers and moves intermodal cargo, chemicals, beverages, and other general freight, according to filings with the Department of Transportation.  A company representative declined to comment on the closure.The US’s $800 billion trucking industry saw an unusual uptick of bankruptcies last year. In the first half of 2019, about 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That’s more than triple the amount of bankruptcies from the same period last year — 175. Read more: Thousands of truck drivers lost their jobs in the 2019 trucking ‘bloodbath.’ Here’s why the $800 billion industry dipped into a recession.

2020 may bring more bankruptcies than 2019, analysts predictBut analysts are expecting 2020 to bring a slew of closures too. Cowen’s freight-transportation team wrote in a February 13 note to investors
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