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Article: Trucking Travails Mean Business for Accountants at Bell & Co.(Brief Article)
- Article from:
- Arkansas Business
- Article date:
- July 9, 2001
- Author:
CopyrightCOPYRIGHT 2001 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE "PERFECT STORM" BEFALLING the trucking industry has meant increased business for a Cabot accounting firm.
Bell & Co., the eight-largest accounting firm in the state, derives nearly half of its business from the trucking industry. And president Richard Bell said the firm has increasingly been asked to help stave off bankruptcy by a number of out-of-state, family-owned trucking companies with revenue in the $30 million-$100 million range.
This year, Bell & Co. has created operating and debt-service plans for 10 trucking companies. So far none of those "cash workout" clients has declared bankruptcy, although Bell said that is still a ossibility as the ...