Trucking company Yellow Corp. is reportedly preparing for bankruptcy.
NEW YORK (AP) — The fate of U.S. trucking company Yellow Corp. isn’t looking good.
After years of financial struggles, Yellow is reportedly preparing for bankruptcy and seeing customers leave in large numbers — heightening risk for future liquidation. While no official decision has been announced by the company, the prospect of bankruptcy has renewed attention around Yellow’s ongoing negotiations with unionized workers, a $700 million pandemic-era loan from the government and other bills the trucker has racked up over time.
Yellow, formerly known as YRC Worldwide Inc., is one of the nation’s largest less-than-truckload carriers. The company has some 30,000 employees across the country.
As of late March, Yellow had an outstanding debt of about $1.5 billion. Of that, $729.2 million was owed to the federal government.
https://www.kctv5.com/2023/07/28/trucking-company-yellow-corp-is-reportedly-preparing-bankruptcy-heres-what-you-need-know/
CNN
https://www.cnn.com/2023/07/27/business/yellow-corp-bankruptcy/index.html