“Trucking firm Yellow files for bankruptcy protection after loading up on debt”
August 7, 2023
“U.S. trucking firm Yellow filed for Chapter 11 bankruptcy protection on Sunday, burdened with a heavy debt load after a series of mergers and following tense contract negotiations with the Teamsters Union.
The bankruptcy filing in a Delaware court lists estimated assets and liabilities of $1 billion to $10 billion and creditors of more than 100,000…
“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” Yellow’s CEO, Darren Hawkins, said in a statement...
Customers include large retailers such as Walmart and Home Depot, manufacturers and Uber Freight. Some have paused shipments to the company on fears they could be lost or stranded if the carrier went bankrupt…”