Covenant Transport will close down Southern Refrigerated Transport’s Texarkana terminal and operations and relocates to Chattanooga headquarters effective May 1, 2020.
SRT president and COO Joey Hogan said none of the company’s drivers will lose their jobs. SRT will lay off 150 “non-driving employees,” who will be offered severance and benefit opportunities, according to Hogan.
“During these unprecedented times, we have been working hard to strengthen the financial stability and future of the enterprise, while also meeting the challenge to be compassionate and fair to our team members,” Hogan wrote.
“Unfortunately, the obviously unforeseen current COVID-induced economic situation has resulted in market circumstances like no other time in our history, requiring a stronger response and quicker shift in strategic direction.”