IdleAire, Inc. announced on Thursday, Jan. 28, that it will cease operations on Friday after failing to find a buyer for the company.

Wray Williams, director of sales and marketing for IdleAire, confirmed the news for Land Line on Thursday.

According to a statement, released late Thursday, by IdleAire, the Knoxville, TN-based company is owned by six investment management companies who were working together on a sale of the company.

The statement detailed that more than 150,000 professional drivers and more than 1,000 fleets were “actively using IdleAire services,” which included “providing filtered heating and air conditioning, electrical outlets and a range of communications and entertainment options.”

“The company had made great strides toward profitability in the midst of a very challenging operating environment,” the owners said in a statement. “We believe IdleAire had strong growth potential and was well positioned to capitalize on the recovering economy. We are very disappointed that the company is forced to cease operations at this juncture.”

More than 315 employees will be laid off as a result of IdleAire’s closure. However, employees were notified in November 2009 that layoffs could occur. At the time of the closure, IdleAire had 131 locations in 34 states.