Yellow, the 99 year old trucking firm, struggling under the weight of debt prepares for bankruptcy

Yellow Trucking The 99-year-old American trucking business ceased business at midday on Sunday, leaving 30,000 workers without jobs

Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • Trucking giant Yellow shuts down: The 99-year-old company which has almost 30,000 staff and 12,000 big-rigs ceases operations immediately – despite $700M COVID bailout
  • Trucking giant Yellow collapsed on Sunday, ceasing operations immediately and leaving some 30,000 workers without jobs.
  • The closure is the biggest in terms of jobs and revenue in the U.S. trucking industry, according to The Wall Street Journal – which first reported its shutdown.
  • The company, which received $700 million in federal COVID relief funds in 2020, is preparing to file for bankruptcy and is in talks to sell off all or parts of the business.
  • The nearly 100-year-old firm is known for its competitive pricing and has more than 12,000 trucks shipping freight across the US for brands including Walmart and Home Depot.
  • But in recent years it has struggled under the weight of debt and had a highly contentious relationship with the Teamsters union: on Sunday, each side blamed the other.

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