Yellow, a 99-year-old trucking company that was once dominant in its field, has filed for bankruptcy
The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district of Delaware. “It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” CEO Darren Hawkins said in a statement. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did.
Mounting troubles While the US economy has remained strong, consumers have shifted their spending away from the goods purchases they made early in the pandemic. Instead in recent years they have been more focused on services, such as travel and going to sporting events, concerts and eating out. Less money on goods meant less need for trucking.
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