Yellow Closure Disrupts LTL Sector
🚛 Yellow Closure Disrupts LTL Sector.
Less-than-truckload carrier Yellow Corp. has ceased operations after nearly 100 years in business, leading to disruptions in the broader LTL market. The company's $1.5 billion debt load, including $700 million owed to the federal government, and negotiations with the International Brotherhood of Teamsters on benefits for 22,000 union workers contributed to its closure. With Yellow's exit, its cargo and market share will be redistributed among other LTL carriers, leading to potential increases in shipping rates and capacity tightening. The company's ongoing negotiations with Apollo Global Management for debtor-in-possession financing are being closely watched, and its nonunion subsidiary Yellow Logistics is up for sale. American Trucking Association has created a portal to help former Yellow employees find new jobs in the trucking industry. Yellow Corp. ranked No. 13 on the Transport Topics Top 100 list of the largest for-hire carriers in North America and No. 3 on the LTL list.
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