Yellow Trucking to File Bankruptcy on Monday: Report
Guest Post by David Greyson
After years of struggles and bailouts, Yellow Corp. Trucking Company will likely file for bankruptcy on Monday, July 31, according to The Wall Street Journal.
In 2020, Yellow received a $700 million bailout loan from the US government which is due in September 2024.
Yellow is reportedly burning through approximately $10 million per day.
According to FreightWaves: “Yellow (NASDAQ: YELL) is the third-largest LTL company and employs some 30,000 workers, including around 22,000 Teamsters members. The trucking company had an operating revenue of $5.245 billion in 2022.”
Customers are fleeing as Yellow struggles with financial problems and labor disputes.
The Wall Street Journal reported: “Yellow has been losing thousands of shipments to other operators because of the risk that a labor dispute will disrupt its operations,
