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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DeSantis' 'anti-woke' bills are costing Florida millions of dollars in business | CNN BusinessA slew of new bills signed into law by Republican Florida Gov. Ron DeSantis has draped the Sunshine State in controversy, spurring protests, lawsuits and travel advisories warning the state is “openly hostile” toward people of color, immigrants, women and LGBTQ+ community members.
Source: CNN - 🏆 4. / 95 Read more »
The invisible laws that led to America's housing crisis | CNN BusinessIn the 1910s, US cities began enacting policies that would shape neighborhoods and, unintentionally, lay the roots for the severe housing shortage today: single-family zoning laws.
Source: CNN - 🏆 4. / 95 Read more »
What Asia's top potato chip maker learned from a huge supply shortage | CNN BusinessWhat happens when Asia’s biggest potato chip maker runs out of potatoes? Japanese snack brand Calbee had to learn the hard way.
Source: CNN - 🏆 4. / 95 Read more »
Blockbuster heatwave helping drive summer movie box office | CNN BusinessWhat are some of the most packed movie screenings at the Maya Cinemas Fresno 16 in Fresno, California, these days? “Oppenheimer?” The multiplex’s dozen daily showings of “Barbie?” Actually, it’s the matinees of both.
Source: CNN - 🏆 4. / 95 Read more »
Berkshire Hathaway swings to a profit, boosted by massive investment gains | CNN BusinessBerkshire Hathaway on Saturday reported a jump in earnings in the second quarter of 2023, recovering from large investment losses a year ago, when the bear market flummoxed even the most successful investors like Berkshire Chairman Warren Buffett.
Source: CNN - 🏆 4. / 95 Read more »
Wells Fargo says missing deposits glitch is resolved | CNN BusinessThe Wells Fargo glitch that made some customers’ direct deposits disappear from their bank accounts is over, the bank said on Saturday.
Source: CNN - 🏆 4. / 95 Read more »