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An Alberta-based trucking company serving the province’s dying oilpatch has closed its doors due to a creditor-imposed bankruptcy.
Dalmac Energy, which for 55 years helped in transporting “hot oiler units” used in cold weather climates. The company closed its doors permanently on January 27, which will put 80 employees out of business.
The company’s end is apparently at the hands of a heft $7 million outstanding debt.
Dalmac CEO John Babic told FreightWaves that the debt made it impossible to even get payroll done.
The company’s closure had been looming for months, had they had already begun scaling down in size along with Alberta’s oil economy.
“This is a larger, sad story,” said Babic. “But I would have planned more carefully in hindsight.”
At their time of closing, Dalmac had about 60 power units, down from about 200. The majority of their 80 employees were drivers.