The trucking industry has been under pressure over the last year from rising interest rates and higher fuel costs, which it has struggled to pass on to shippers. Three years after receiving a $700 million pandemic-era lifeline from the federal government, the struggling freight trucking company Yellow is filing for bankruptcy.
After monthslong negotiations between Yellow’s management and the Teamsters union broke down, the company shut its operations late last month, and said on Sunday that it was seeking bankruptcy protection so it can wind down its business in an “orderly” way.
“It is with profound disappointment that Yellow announces […]
Click here to visit source. www.nytimes.com
See also Andreessen Horowitz to open first office outside the U.S. in London in bet UK will become crypto hub
Powered by Inline Related Posts