Receiver: Ambulance company was hemorrhaging money

A Providence-based ambulance company was forced to shut down because it was losing thousands of dollars a week.

Providence lawyer Leonard Accardo Jr. is serving as the receiver for Universal Ambulance Service and will start liquidating the company's assets. The company had 32 vehicles.

Accardo said the company's collapse left about 75 people out of work. A trust is in place to make sure employees get their final paychecks.

Patient care and transportation services have been transferred to other providers.