New York/Hong Kong CNN —Yellow Corp., a US trucking company that was once dominant in its field, has filed for bankruptcy as it winds down the 99-year-old business.
The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district of Delaware.
“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” CEO Darren Hawkins said in a statement.
“Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did.
The filing comes more than a week after the trucking company halted operations, putting 30,000 people out of work.
Persons:
Darren Hawkins, ”
Organizations:
Hong Kong CNN — Yellow Corp, Court, Teamsters
Locations:
New York, Hong Kong, Nashville, Delaware, “