Fresco, California-based drayage trucking company TGS Transportation has closed.

The company announced Thursday that it would be closing its operations effective that same day, according to a letter posted on LinkedIn by TGS President Peter Schneider.

In the letter addressed to vendor partners and industry friends, TGS stated that the decision to close was difficult and “influenced by the challenging market conditions facing the industry.” The letter was signed by Peter, CEO Timothy Schneider and Chief Operating Officer Robert Loya.

“To Our Valued Customers: We extend our heartfelt thanks for your unwavering trust and partnership over the past 40 years,” TGS’ letter stated. “The relationships and friendships forged have been the foundation of our success.”