Cash-strapped U.S. trucking company Yellow has ceased operations and is filing for bankruptcy after failing to reorganize and refinance over a billion dollars in debt, the Teamsters Union said on Sunday.
Yellow, formerly called YRC Worldwide, did not immediately respond to a Reuters request for comment.
Earlier this month Yellow averted a threatened strike by 22,000 Teamsters-represented workers and last week it said it was exploring opportunities to divest its third-party logistics company.