IdleAire, the major provider of shore power to truckers, closed today, Jan. 29, after its investment company owners the past 18 months failed to find a buyer.
IdleAire is owned by unidentified six investment management companies that were working together as IdleAire Acquisition Co. LLC to sell the company, the owners said in a statement. A call to the Knoxville, Tenn.-based company headquarters yields a recording of the closing date and provides customers with an email address they can contact for receipts until Feb. 4.
Truckers will not be able to use the service after today, the company confirmed.
A statement released by “the company owners” said they were disappointed they were ceasing the operation that served 150,000 truckers and more than 1,000 fleets.
“The company had made great strides toward profitability in the midst of a very challenging operating environment,” the owners said. “We believe IdleAire had strong growth potential and was well positioned to capitalize on the recovering economy.
“Like many companies in the current economic situation, IdleAire experienced challenges,” they continued. “Due to the economy, our customers had less freight to haul, resulting in reduced truck traffic and we have had extremely mild weather across the nation, reducing the demand for our climate control service. We continued to stay ahead of the financial issues and make adjustments as needed, but time and operating capital simply ran out.”
Marketing manager Wray Williams said he could not comment further.
In November, IdleAire notified employees layoffs could occur and today’s closing affects 315 employees. IdleAire had 131 locations in 34 states.
The current owners had acquired the company after it declared Chapter 11 bankruptcy protection in May 2008.
The IdleAire closing leaves fewer truck stop electrification options. Shorepower, formerly Shurepower, offers services in Washington, Oregon and North Carolina and a partner site in California.