Yellow Trucking Company Rejects Bid to Revive Operations
Yellow, the bankrupt trucking company, has rejected a bid by a trucking executive to buy and restructure the business, stating that the bid was "not viable" and lacked support from creditors, including the Treasury Department. Yellow's management plans to proceed with its own bankruptcy plan, which involves selling off assets to different buyers. The bid, led by Sarah Riggs Amico, had the backing of the International Brotherhood of Teamsters but required support from major creditors. Analysts believe reviving Yellow may be challenging due to customer shifts and many former employees finding jobs elsewhere.
