Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico, after the company filed for bankruptcy protection, in San Diego, California, August 7, 2023 Mike Blake | Reuters A group of investors hoping to ...
US-based less-than-truckload carrier Yellow Corporation has filed for bankruptcy as the company prepares for its “planned operational wind-down”. Transporting shipments for major US brands including Walmart and Home Depot, Yellow has been operating for almost a century. The firm’s Chief Executiv...
and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware for the Company’s planned operational wind-down. To facilitate this process, the Company expects...
Yellow Corp. may get better terms on a bankruptcy loan than it had going into the Sunday filing. The post Yellow searching for better bankruptcy financing terms appeared first on FreightWaves . APO:158.08(-2.52%) YELL:1.1000(-29.03%)
Yellow's stock lost 82% of its value between the time of that loan and Thursday close after reports of the bankruptcy plans, closing at only 57 cents a share. It bumped up 14 cents a share on Friday, but still remained a so-called penny stock. ...
Yellow did not respond to CNN questions about what itplans to do for its workers or when it might file for bankruptcy. The company has blamed its problems on an inability to reach a new labor deal with the Teamsters union, which represented 22,000 workers at Yellow, including Roper. The ...
Bankruptcy Court for the District of Delaware.More... Sector Industrials Industry Cargo Ground Transportation Employees 30,000 Founded 1924 Address 11500 Outlook Street Overland Park, KS, 66211 United States Phone Number 913 696 6100 Website www.myyellow.com...
Corporation in February 2021. Yellow Corporation was founded in 1924 and is based in Overland Park, Kansas . On August 6, 2023, Yellow Corporation, along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of ...
The bankruptcy also came amida freight recessionwhich has pressured the business models for many players in the trucking space and led to multiple rounds of layoffs and failures. "No one is missing Yellow," Vieth said. "They went out of business at the bottom of a freight cycle when there...