An affiliate of Ken Griffin’s Citadel has acquired roughly $485 million in Yellow Corp. debt previously owned by Apollo Global Management and other lenders to the bankrupt trucking firm.
August 16, 2023Search
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Seth Clevenger and Mike Senatore dive into the Transport Topics Top 100 list of the largest logistics companies. They address trade challenges, mergers, sector trends and more.
Yellow Looks to Finalize Bankruptcy Loan
Yellow Corp. continues to work with potential financiers, including Estes Express Lines, who are offering more affordable alternative bankruptcy financing for the LTL trucking company.
August 11, 2023Forward Air Plans Merger With Omni Logistics
Forward Air Corp. and Omni Logistics announced Aug. 10 that they have entered into a definitive agreement to combine in a cash-and-stock transaction.
August 10, 2023Trucking Industry Reports Predictably Weak Q2
The trucking industry reported a weak second quarter with freight volumes and destocking efforts putting downward pressure on demand.
August 10, 2023Yellow Might Get Loan From Fellow Trucking Fleet to Pay Debts
Yellow Corp. has sparked a bidding war between investment firms and a rival trucking company interested in funding the now-shuttered company’s liquidation.
August 9, 2023Searches for UPS Jobs Soar Following Union Deal
UPS Inc. has become a hot employer since its union last month secured $30 billion in new money over a five-year contract.
August 8, 2023UPS Lost More Business Than Expected on Strike Threat
Profits at UPS fell year-over-year in the second quarter as the parcel carrier lost more business to rivals than expected due to uncertainty surrounding negotiations with the Teamsters.
August 8, 2023Yellow Files for Chapter 11 Bankruptcy
Yellow Corp. on Aug. 7 announced it was seeking Chapter 11 bankruptcy protection and entering into an agreement that would secure sufficient financing to wind down operations.
August 7, 2023XPO Reports Q2 Income, Revenue Decline
XPO saw second-quarter net income and revenue decline, but the company sees momentum headed into the third quarter.
August 4, 2023Yellow Closure Reshuffles LTL Sector
Less-than-truckload carrier Yellow Corp.'s ceasing of operations on July 30 after nearly 100 years in business is causing an upheaval for both its customers and the broader LTL market.
August 3, 2023