Bankrupt trucking company Yellow fully repays $700M CARES Act loan — plus $151M more in interest
Yellow Corp., a bankrupt trucking company previously based in Overland Park, repaid a $ 700 million loan it received from the U.S. Treasury with interest, but the value of nearly 16 million shares owned by the federal government remains up in the air.
Nashville Business News – Local Nashville News | The Nashville Business Journal
In Yellow bankruptcy, pension fund, governments and other unsecured creditors could come up short
Once the bankrupt trucking company satisfies three big debts totaling about $ 1.2 billion, the remaining unsecured creditors will face real challenges being made whole. This includes the pension fund for union workers: Its claim probably will be “in the billions.”
Nashville Business News – Local Nashville News | The Nashville Business Journal
Yellow is starting mass layoffs and preparing to file bankruptcy soon, employees say
Based on provided tips and posts to Reddit, it appears that Yellow is laying off the bulk of its non-union employees and preparing for an imminent bankruptcy filing. Company officials have not responded to requests for comment.
Nashville Business News – Local Nashville News | The Nashville Business Journal
Teamsters balk at new concessions as Nashville-based Yellow Corp. tries to avoid bankruptcy
With a massive debt problem hanging over it, Nashville-based Yellow Corp. says that to avoid bankruptcy it needs additional concessions from International Brotherhood of Teamsters workers. But the union says its members already have given enough.
Nashville Business News – Local Nashville News | The Nashville Business Journal
Yellow Corp. cuts one of its C-suite positions
Yellow Corp. moved its headquarters to Nashville from the Kansas City area earlier this year.
Nashville Business News – Local Nashville News | The Nashville Business Journal