Trucking company Yellow Corp. has filed for bankruptcy, marking a significant shift in the U.S. transportation industry.
Despite receiving pandemic-era loans, the company will liquidate, leaving creditors unlikely to recover funds. Poor management and strategic decisions over the years led to Yellow’s financial downfall.
Yellow, formerly known as YRC Worldwide Inc., is one of the nation’s largest less-than-truckload carriers. The Nashville, Tennessee-based company had 30,000 employees across the country.