Yellow Rejects Bid to Revive the Collapsed Trucking Company

null By Paul BergerUpdated Dec. 7, 2023 7:24 pm ETYellow has sent tens of thousands of tractors and trailers to liquidators for final sale. Photo: Patrick t. Fallon/Agence France-Presse/Getty ImagesYellow rejected an offer to revive the bankrupt trucker and rehire thousands of its former workers, effectively ending a long-shot effort to reverse the collapse of one of the country’s biggest freight carriers. Lawyers for Yellow told the group seeking to resurrect the trucking company in a letter Wednesday that its bid was “not viable” and that Yellow is moving ahead with the sale of about 130 truck terminals that raised almost $1.9 billion at a bankruptcy auction this month. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Sponsored OffersTurboTax: Save up to $15 with TurboTax coupon 2023The Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: Get 20% off H&R Block tax software productsTop Resume: Top Resume Coupon: 10% O

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Opinion Dec 8, 2023 Add to Reading List

Yellow Rejects Bid to Revive the Collapsed Trucking Company

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Paul Berger

Updated Dec. 7, 2023 7:24 pm ET

Yellow has sent tens of thousands of tractors and trailers to liquidators for final sale. Photo: Patrick t. Fallon/Agence France-Presse/Getty Images

Yellow rejected an offer to revive the bankrupt trucker and rehire thousands of its former workers, effectively ending a long-shot effort to reverse the collapse of one of the country’s biggest freight carriers.

Lawyers for Yellow told the group seeking to resurrect the trucking company in a letter Wednesday that its bid was “not viable” and that Yellow is moving ahead with the sale of about 130 truck terminals that raised almost $1.9 billion at a bankruptcy auction this month.