The Western Conference of Teamsters Pension Trust ha reffered its 10 YRC accounts to its attorneys for collection, reported the Journal of Commerce Friday.
YRC, which posted a $257 million loss in the first quarter, announced earlier in the month that it would seek $1 billion in federal bailout money to help relieve pension obligations, according to a report in the Wall Street Journal.
News reports indicate the company sold its headquarters off of I-435 in Overland Park, Kan., to a group of local investors in order to raise cash. The deal includes a least that allows YRC to stay in the building for 30 years.
In good news, YRC lenders waived an earnings target for the second quarter.