"We don't see a long- or short-term future in this," said president Rick Alterman, whose father, Sidney Alterman, founded the company in 1938. "We have rising costs, but revenues are not rising."

The family-owned company said it employs 200 at its Opa-locka terminal, 700 at its six additional Florida terminals and seven employees outside the state.

Rick Alterman said the company has endured operating losses due to increasing costs in health and liability insurance, driver wages and fuel.

The company said it would start auctioning its real estate, trucks and related equipment in February at its Opa-locka, Tampa and Charlotte facilities. Deliveries are to be carried out on schedule through December, as demand warrants, and the company plans to assist customers in finding alternative haulers.