After 37 years in business, a tanking economy has forced Kelowna-based Glencoe Transport to close its operations as of May 31, leaving about 184 employees out of work.

“We started telling our employees on Monday, and there was a lot of sadness and some tears,” said Don Coe, president of the trucking company.

Coe noted that some of his staff had been with the firm for the better part of 20 years.

“It’s disheartening, but it was a business decision. We lost a major piece of our business and when you combine that with the current economic conditions it had to be done,” Coe said.

Operations will systematically be shut down over the next few months, which he said will hopefully allow for the company’s customers, employees, vendors and suppliers to get used to the changes.

Coe feels Glenncoe’s closure could be a sign of things to come in his industry.

In the process of deciding to shut-down, studies were conducted that examined the marketplace. The conclusion left them with the realization that demand for trucking services in Kelowna were weakening, Coe said.
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