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XPO, Estes Express Lines, and Saia were among less-than-truckload companies that purchased Yellow terminals during a recent court-supervised auction following the company’s bankruptcy. About 75% of Yellow’s properties will be sold, for nearly $1.9 billion.
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After decades of struggling financially, Yellow filed for Chapter 11 bankruptcy protection over the weekend. The less-than-truckload carrier had ceased operation July 30.
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With longtime trucking giant Yellow shutting down and reported to be planning to file for bankruptcy, what is the impact on the trucking industry, in particular LTL?
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Yellow Corp., one of the longest-serving American trucking companies, ceased operations over the weekend and has announced it will be filing for bankruptcy.
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YRC Freight announced that by the end of the year, the company and BNSF Railway will have onboarded more than 600 branded intermodal containers to improve operational efficiency.
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YRC is being accused of overcharging for shipments it hauled for the Department of Defense and then lying to the government to cover it up. YRC calls the claims "totally without merit."
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Trucking company YRC Worldwide Inc. narrowed its first quarter loss but was still in the red, but it expects an improvement in its finances later in the year.
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Trucking and logistics provider ArcBest reported third quarter numbers showing net income improved a little more than 14.5% to $14.8 million, or 56 cents per share, 2 cents below Wall Street expectations.
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Financial losses for YRC Worldwide Inc., parent to both national and regional less-than-truckload carriers, more than doubled in the first quarter of the year despite a small upturn in revenue.
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The parent of less-than-truckload carrier YRC Freight and others managed to reduce its losses in the final quarter of 2016 while a truckload carrier reported a loss for both the final three months of last year and all of 2016.
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