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(Raz Transportation)

Raz Transportation, a privately owned charter bus company based in Southwest Portland, says it will stop operating this week. Some of the company's customers are scrambling to find other carriers.

"We are very sad to say that yes unfortunately we are closing down and the last day of service is Wednesday, Feb 19th" Raz owner Cris Schulz said in an email to The Oregonian on Tuesday.

The company, which has 49 buses and about 60 employees, will begin trying to sell its fleet, she said.

At least two of the company's customers – Portland Public Schools and Washington Special Olympics – said Raz had told them last week it was shutting down.

"From what we know, they closed their doors last Friday," said Lori Friedt of Washington Special Olympics, which is planning a series of events, including a statewide winter games day in Wenatchee at the end of the month. "We're looking for alternatives."

Elena Mark, a transportation planner with Portland Public Schools, said Raz informed her last week it wouldn't fulfill contracts it had to carry students on field trips.

The company was founded by the Raz family in 1937. Family members ran it until about eight years ago, Schulz said, at which point it was sold to a series of absentee owners until she acquired it last fall. She said she took ownership almost immediately after Raz had lost a major contract.

"I told the employees I should have walked away," she said Tuesday. "But then the doors would have closed that week."

She said she promised employees at the time she wouldn't fire anyone and she kept that promise, she said.

Last week, a Raz employee sent some customers an email that began: "Regretfully, this message is to inform you that Raz Transportation is going to stop conducting business effective immediately."