Yellow, the third-largest less-than-truckload (LTL) carrier in the US, has ceased operations and is getting ready to submit to bankruptcy.
After 99 years in business, Yellow Corp is at the end of the road, with a $1.5bn debt burden and rapid erosion as customers shifted to other LTL providers.
On Sunday a notice at the company’s terminals read: “Dear valued customers and employees, all company operations have ceased.”
The Teamsters union, which represents the …
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