 Celadon was founded in 1985 and employed over 4,000 individuals.On May 1, 2017 the company announced that COO Eric Meek had resigned after auditor BKD, LLP had determined that the financial statements for the 2016 fiscal year “should not be relied upon.” On May 8, the New York Stock Exchange informed the company that it had failed to meet the exchange's listing standard and the company's stock could be delisted in six months.The noncompliant financials put Celadon into default with its lenders.