10 Roads Express to Shut Down After Losing USPS Business
Carrier Cites 70% Revenue Decline as Postal Service Revamps Network
Key Takeaways:
- 10 Roads Express said Dec. 1 it will shut down after losing the U.S. Postal Service as its primary customer and beginning to wind down operations.
- The carrier lost 70% of revenue as USPS shifted to brokers and insourcing, making continued operations financially unviable despite cost-cutting efforts.
- The company notified USPS of its decision and said it will complete contractual obligations as it manages the transition and communicates next steps to stakeholders.
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10 Roads Express will shut down after losing the U.S. Postal Service as its primary customer, the carrier announced Dec. 1.
The Carter Lake, Iowa-based contract carrier cited headwinds hindering the overall transportation sector and the loss of USPS, whose contract accounted for 70% of the company’s revenue, as the postal service revamped operations across its network. The company has started to wind down operations.
“Our industry has been navigating unprecedented challenges, and despite the dedication of our employees and leadership, the realities of the industry have become impossible to overcome,” a spokesperson for the company said in a statement provided to Transport Topics. “This decision was not made lightly, and we are grateful for the years of dedicated commitment and professionalism of our entire team.”
USPS has been working with the company for close to 50 years. But over the past year, it has revamped its operations in ways that leaned more on brokers and insourcing. 10 Roads was unable to adapt.
Company leadership eventually decided to cease operations after it was unable to cut back enough to remain viable.
“We remain very appreciative of our long-standing relationship with the USPS and are committed to supporting a smooth transition,” the spokesperson said.
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10 Roads has already provided formal notice to USPS about the decision and affirmed its commitment to completing all contractual obligations during the transition period. The company said further communications regarding the wind-down will be shared directly with the relevant stakeholders.
10 Roads ranks No. 50 on the TT Top 100 list of the largest for-hire carriers in North America. The company operates 36 terminals and has scheduled delivery points in 47 states, supported by more than 3,500 company-owned tractors and 5,000 trailers.
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