Yellow Corp. which operated in the LTL sector (Less-than-truckload) stopped operations July 30, 2023.

The bankruptcy has displaced approximately 30,000 employees. The ceased operations will most likely cause higher prices for consumers as Yellow Corp. was known for its discounted prices in the LTL space. Competitors already have signaled they will not be matching Yellow Corps. prices.

The Yellow Corp. bankruptcy comes 3 years after receiving $700 million of taxpayer money in pandemic-era loans. Most creditors including the U.S. are unlikely to recover much of the funds owed.

The company has over 300 facilities in its network, and it owns 169 terminals. These will be auctioned, and prospective bidders can submit their interest by August 18 and a bid by Oct 15.

Much of the blame is placed on poor management and bad decisions going back decades.