Trucking Firm That Got $700 Million U.S. Bailout Declares Bankruptcy

August 07, 2023

Three years after receiving a $700 million pandemic-era lifeline from the federal government, the struggling freight-trucking company Yellow is filing for bankruptcy. The company filed a so-called Chapter 11 petition in federal bankruptcy court in Delaware. Yellow, which formerly went by the name YRC Worldwide, received the $700 million loan during the summer of 2020 as the pandemic was paralyzing the U.S. economy. Jack Atkins, a transportation analyst at the financial services firm Stephens, said that Yellow’s troubles had been mounting for years. “Years of poor financial management at Yellow has resulted in hard-working people losing their jobs.”The post Trucking Firm That Got $700 Million U.S.