The company will cease operations at the end of the month.

A large trucking company has announced that it is shutting down a subsidiary fleet due to poor financial performance.

TFI International, formerly known as Transforce, has announced that they are shutting down their Highland Transport division, effective June 28.

Highland Transport is a truckload and container carrier that mainly operates in the northeastern U.S., Toronto, and Montreal.

TFI pointed to softness in the northeastern freight market as a reason for the closure.

Highland Transport currently employs about 120 owner-operators and 30 drivers. TFI says that it will try to find other jobs for the laid off employees within the company. TFI operates about 16,000 trucks across the country.

Highland Transport was founded in 1967 and is based in Ontario. The company was acquired by TFI in 2004.