YRC Worldwide Looking to Borrow More Than $1 Billion to Stay Afloat
The financially troubled parent of several trucking companies, including YRC Freight, hopes to borrow $1.15 billion to refinance its debt, according to Bloomberg News.
The financially troubled parent of several trucking companies, including YRC Freight, hopes to borrow $1.15 billion to refinance its debt, according to Bloomberg News.
It consists of a five-year term for YRC Worldwide that includes two types of financing. Further details are expected to be publicly announced Thursday, the same day results are expected to be released from a vote by 26,000 YRC Teamster Union employees on extending their current labor contract into 2019.
YRC has reported annual losses since 2007. Just before the end of last year it reduced debt by $300 million, but still owes $1.4 billion due what many blame on bad decisions by prior company management, including underestimating the costs of integrating YCR Worldwide’s Yellow and Roadway businesses into one, now known as YRC Freight.
Read more from Bloomberg News.
More Fleet Management
What Geotab's New AI Connector Means for Fleets
Fleets can now ask their usual AI assistants questions about maintenance, safety, fuel use, and vehicle performance, using their live Geotab data, and take action on the answers without leaving their preferred AI tool.
Read More →
New C.H. Robinson Tool Opens Door to More Predictable Freight
BidBoardX lets carriers search, bid on, and secure committed freight opportunities through a single digital marketplace.
Read More →
New York City's Microhub Project is Delivering Results
Trucking, last-mile delivery companies, and environmental advocates like what they are seeing so far with New York's microhub program.
Read More →
Why Truck Detention Keeps Costing Fleets Time and Money
A 2024 ATRI study found detention affects nearly 40% of truckload stops and costs the industry more than $15 billion annually. Despite the toll on drivers, fleets, and supply chains, the problem remains stubbornly persistent.
Read More →
Time is Running Out to Apply for Exclusive HDT Event
Heavy Duty Trucking Exchange brings fleet managers and suppliers together for the deeper conversations that lead to ideas, partnerships, and solutions. Time is running out to apply for the September event.
Read More →
Amazon Launches Less-Than-Truckload Freight Offering for All Businesses
This launch is the latest addition to Amazon Supply Chain Services, a portfolio of supply chain capabilities from Amazon, including freight, distribution, fulfillment, and parcel shipping.
Read More →
Import Cargo Volume to See Year-Over-Year Gain Again in June, Then Remain Below 2025 Levels Into Fall
After July, the report predicts a weakening in import volume as consumer uncertainty remains high and the impact of increasing inflation takes its toll.
Read More →
AUCTION OF EQUITY INTEREST IN HEAVY HAUL TRUCKING COMPANY!!
Mark your calendar: June 30, 2026 (10:00 a.m. PDT). A 37.5% ownership interest in MagnaTrans, LLC, a California limited liability company doing business as Magna Transportation Group, will be sold in an in-person and online auction to the highest bidder or bidders under Article 9 of the Uniform Commercial Code. The Rancho Cucamonga-based heavy haul and over-dimensional trucking company operates across California, Oregon, and Arizona.
Read More →
Volvo Trucks Adds Unattended Over-the-Air Software Update Capabilities
The latest evolution of Volvo’s over-the-air update technology allows software updates to run while trucks are parked, helping fleets keep vehicles current without disrupting operations.
Read More →
How Waste Connections is Using Data, Telematics, and AI
How do you manage and maintain more than 18,000 connected trucks? Data. Lots of it.
Read More →