Yellow Corporation
Yellow Corporation was an American transportation holding company headquartered in Nashville, Tennessee. Its subsidiaries included national less than truckload (LTL) carrier YRC Freight; regional LTL carriers New Penn, Holland, and Reddaway; and freight brokerage HNRY Logistics. From 2006 to February 2021, Yellow was known as YRC Worldwide.
YRC Freight headquarters in Overland Park, Kansas | |
| Formerly |
|
|---|---|
| Company type | Public |
| OTC Pink: YELLQ Nasdaq: YELL | |
| Industry | Transportation |
| Founded | 1929 |
| Founders |
|
| Defunct | 2023 |
| Headquarters | , |
Area served | North America |
Key people | Darren Hawkins (CEO) |
| Revenue | US$5.2447 billion (2022) |
| US$197.8 million (2022) | |
| US$21.8 million (2022) | |
| Total assets | US$2.2793 billion (2022) |
| Total equity | US$–381.5 million (2022) |
| Owner | U.S. Treasury (29.6%, since 2020) |
Number of employees | c. 30,000 (December 2022) |
| Subsidiaries | |
| Website | myyellow |
| Footnotes / references | |
At 12:00 pm on Sunday, July 30, 2023, the company ceased operations due to financial problems. On August 6, 2023, it filed for Chapter 11 bankruptcy protection. It owes $730 million to the federal government, which owns 30% of the corporation, as a result of the $700 million pandemic loan Yellow received in 2020. It had 30,000 employees, 22,000 of whom were members of the International Brotherhood of Teamsters. The financial problems existed since 2000, when the company started taking on large debt loads while acquiring competitors but failed to achieve efficiencies of integrating the separate companies into one network, with the company stating that their union contracts were one factor blocking this integration. The company has only had three profitable quarters since 2009. An auction for the Yellow properties took place in November 2023.