The sale of Yellow’s network of trucking terminals and tens of thousands of trucks and trailers is moving through U.S. Bankruptcy Court. Photo: Charlie Riedel/Associated PressJack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered business, according to people familiar with the matter. The improbable effort would require the Treasury Department to defer repayment for several years of a $700 million loan provided to Yellow under a Covid pandemic-era bailout, one of several debts that helped push one of the country’s biggest truckers into collapse earlier this year.

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Persons: Charlie Riedel, Press Jack Cooper Organizations: Bankruptcy, Press, Press Jack Cooper Transport, Teamsters, Treasury Department Locations: U.S