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Reason
Reason
Joe Lancaster

Trucking Company on the Hook for $700 Million Federal Loan Files for Bankruptcy

Yellow Company Reason Teamsters

Last month, Reason wrote about Yellow Corporation (formerly YRC Worldwide), a long-haul trucking company in dire financial straits. The company took a $700 million federal loan under laws passed to address the COVID-19 pandemic in 2020, in exchange for the government taking a 29 percent stake in the company.

Now, Yellow is expected to file for bankruptcy and employees are apparently being terminated, effective immediately.

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