A local trucking firm "suddenly and without warning" closed its doors on Saturday, employees said.
Lesco Logistics was owned by Cindy and Les Lee.
The move at the firm on 8th Avenue resulted in more then 50 employees losing their jobs.
The phone at Lesco now has a recording, "Lesco Logistics is no longer in business. We are thankful for the privilege we had to serve our customers and for everyone we had the opportunity to work with."
Brent Goldberg, former chief operating officer for the city of Chattanooga, left that post to become vice president and chief financial officer at Lesco Logistics in October 2015.
Mr. Goldberg said on Sunday, "The owners and executive management of Lesco Logistics have chosen to shift their focus to other areas within the commercial truck industry and wind down their trucking operation. All employees have been notified and either reassigned or released. Those released have been provided extended health insurance benefits and job placement assistance.
"All commitments to customers are being fulfilled and arrangements are in place to provide alternative solutions.
"Lee-Smith, Lesco (Idealease of Chattanooga), and LyncAmerica all remain strong and each have experienced considerable growth during the past two years. Each of these companies continue to make substantial investments in their operations including several building projects which will begin in the second quarter of this year.
"This move will better position the companies to expand their core businesses and pursue key opportunities within their primary focus areas."