Title: Yellow Rejects Offer to Revive Bankrupt Trucker, Ending Hopes of Revival
Updated Dec. 7, 2023 7:24 pm ET
Yellow, one of the country’s biggest freight carriers, has rejected an offer to revive the bankrupt trucker and rehire thousands of its former workers. This effectively ends a long-shot effort to reverse the collapse of the company.
Lawyers for Yellow informed the group seeking to resurrect the trucking company in a letter on Wednesday that their bid was “not viable.” The company stated that it is moving forward with the sale of about 130 truck terminals, which raised almost $1.9 billion at a bankruptcy auction earlier this month.
This decision brings an unfortunate conclusion to the hopes of reviving Yellow and providing employment for its former workers. It also marks the end of a significant chapter in the transportation industry.
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