Trucking company Yellow Corp. has declared bankruptcy after years of financial struggles and growing debt, marking a significant shift for the U.S. transportation industry and shippers nationwide.
Box trailers and trucks are seen at Yellow Corp. trucking facility Monday, July 31, 2023 in Nashville, Tenn. The troubled trucking company is shutting down and filing for bankruptcy, the Teamsters said Monday. An official bankruptcy filing is expected any day for Yellow, after years of financial struggles and growing debt. industry and shippers nationwide.
In 2019 two trucking companies, Celadon and New England Motor Freight, file for bankruptcy protection and liquidated. Yellow, formerly known as YRC Worldwide Inc., is one of the nation’s largest less-than-truckload carriers. The Nashville, Tennessee-based company had 30,000 employees across the country.
The Wall Street Journal and FreightWaves reported in late July that the bankruptcy was coming — noting that customers had already started to leave the carrier in large numbers and that the company had stopped freight pickups. The company said it has asked the U.S. Bankruptcy Court in Delaware for permission to make payments, including for employee wages and benefits, taxes and certain vendors essential to its businesses.
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