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Yellow Corp High Risk Report!

Bankruptcy Case Study!
10990 Roe Ave
Phone: (913) 696-6156p:913 696-6156 OVERLAND PARK, KS  66211  United States Ticker: YELLQYELLQ
Filed for Bankruptcy on 8/6/2023
This company ceased filing statements with the SEC on 9/21/2023.
Case #23-11069, filed in the U.S. Bankruptcy Court for the District of Delaware

Business News: Trucker YRC Received Bulk of Relief Loans


YRC Worldwide Inc., a financially troubled trucker that moves goods for the Defense Department, accounted for almost all of the federal coronavirus relief funding to businesses deemed crucial to national security.

The Overland Park, Kan., company was one of 11 businesses that received loans through the $17 billion program for that sector, with the $700 million that went to the trucker making up 95% of the roughly $736 million in outstanding loans. The national-security loan program was initially envisioned as a way to support big defense contractors through a provision of the $2.2 trillion Cares Act relief package, but there was less demand for the support than expected and most of the backing went to smaller firms and startups.

YRC has drawn down $551.3 million, or about 79% of its loan, according to a Jan. 4 report by the Treasury Department. The government agreed to loan the funds in July in exchange for a 29.6% equity stake in the company.


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Tuesday, April 23, 2024