Three years after receiving a pandemic relief loan, the trucking company Yellow has repaid little of the money and is warning that it could soon run out of cash.
A beleaguered trucking business that received a $700 million pandemic-era loan from the federal government may be forced to file for bankruptcy protection this summer amid a dispute with its union, a development that could leave American taxpayers stuck with a failed company.
The financial woes at the business, Yellow, which previously went by the name YRC Worldwide, have been building for years. The company lost more than $100 million in 2019 and has more than $1.5 billion in outstanding debt, including the government loan. In 2022, YRC, which ships meal kits, protective equipmen…
Read the full article at: https://www.nytimes.com/2023/06/27/business/yellow-trucking-bailout-teamsters.html