Yellow Corp asset sale could surpass $1.4 bln - Fox Business

📆 09/08/2023 05:31:00
📰 Reuters

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Trucking company Yellow Corp's assets have attracted significant bidders and their sale could likely surpass the company's $1.4 billion in secured debt, Fox Business reported on Tuesday, citing people with direct knowledge of the matter.

Semi truck trailers are pictured at freight trucking company Yellow’s terminal near the Otay Mesa border crossing between the U.S. and Mexico, after the company filed for bankruptcy protection, in San Diego, California, U.S., August 7, 2023 REUTERS/Mike Blake/File Photohave attracted significant bidders and their sale could likely surpass the company's $1.4 billion in secured debt, Fox Business reported on Tuesday, citing people with direct knowledge of the matter.

Shares of the company closed 24% higher in regular trading after the news. They fell 16% in extended trading.

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Yellow Corp., a 99-year-old trucking company, files for bankruptcyYellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers. Yellow Corp., formerly known as Yellow Freight, was one of the dominant carriers in the less-than-truckload (LTL) segment. Along with two other unionized LTL rivals, Roadway and Consolidated Freight, Yellow was part of the Big Three in the industry.
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