Sun-Backed Jevic Shuts Down

Jevic Transportation, a Delanco, N.J.-based trucking company owned by Sun Capital Partners, has shut down and filed for Chapter 11 bankruptcy protection. Jevic also asked court permission to borrow up to $60 million from CIT. The move has already resulted in job losses for around 90% of the company's 1,500 employees. Sun had paid around $40 million to carve the company out of SCS Transportation in 2006.