Yellow is shutting down and headed for bankruptcy, the Teamsters Union says. Here’s what to know

BY WYATTE GRANTHAM-PHILIPS
AP Business Writer

NEW YORK (AP) — Trucking company Yellow Corp. has shut down operations and is headed for a bankruptcy filing, according to the Teamsters Union and multiple media reports. After years of financial struggles, reports of Yellow preparing for bankruptcy emerged last week — as the Nashville, Tennessee-based trucker saw customers leave in large numbers. Yellow shut down operations on Sunday, according to The Wall Street Journal, following the layoffs of hundreds of nonunion employees on Friday. In an announcement early Monday, the Teamsters said that the union received legal notice confirming Yellow was ceasing operations and filing for bankruptcy. No bankruptcy filings had gone live as of Tuesday morning.