Trucking company Yellow Corp. is reportedly preparing for bankruptcy. Here’s what you need to know
MGN
NEW YORK (AP) — After years of financial struggles, U.S. trucker Yellow Corp. is reportedly preparing for bankruptcy and seeing customers leave in large numbers.
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 media contacts did not immediately respond to The Associated Press’ requests for comment on Friday.
In a Wednesday statement to The Wall Street Journal, the company said it was continuing “to prepare for a range of contingencies.”
On Thursday, Yellow said it was in talks with multiple parties about selling its third-party logistics organization.
