Intrenet Shutting Down Trucking Operations

Intrenet Inc. is immediately shutting down, ceasing its trucking operations and laying off most of its 1,700 employees because of financial problems and increasing fuel prices. Intrenet will keep a minimal staff to close operations and liquidate assets, the company said. The holding company, whose trucking subsidiaries haul machinery and building materials, said it lacked money to carry out its business plan. Intrenet officials said they also had problems keeping drivers and worried whether customers would accept rate increases. Chief Executive John P. Chandler announced the closing from the company’s headquarters in Milford, Ohio. He said one subsidiary, INET Logistics, will continue operating pending its sale. The closing will affect owner-operators of trucks driven for Intrenet, company officials said. All cargo loads that are in transit will be delivered, but no more loads will be accepted, officials said.