$700 Million in Pandemic-Era Loans Was Not Enough to Save Yellow Corp. Trucking

Trucking company Yellow filed for Chapter 11 bankruptcy on Sunday after receiving more than $700 million in COVID-19 pandemic program loans from the federal government, according to a press release from Yellow.

The 99-year-old company ceased operations of its more than 12,000 trucks on July 30, ending its less-than-truckload business, a shipping service that does not require a whole truck to be filled and was utilized by companies like Walmart, Amazon and small businesses that did not have enough freight to ship in a full truck. The bankruptcy follows a history of financial trouble, with the company receiving $729.2 million in pandemic-era loans from the Trump administration in 2020, and had a total debt of $1.5 billion, according to The Associated Press.

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