July 30 (Reuters) – U.S. trucking firm Yellow (YELL.O) ceased all operations on Sunday, the Wall Street Journal said citing notices sent to customers and employees.
The Wall Street Journal reported last week the Nashville, Tennessee-based company is preparing to file for bankruptcy and has laid off a large number of workers.
Earlier this month Yellow averted a threatened strike by 22,000 Teamsters-represented workers, saying the company will pay the more than $50 million it owed in worker benefits and pension accruals.
Yellow did not immediately respond to a Reuters’ request for comment.
The company said on Thursday it is exploring opportunities to divest its third party logistics company Yellow Logistics Inc, and is engaged with multiple interested parties.
Reporting by Yana Gaur in Bengaluru
Editing by Chris Reese
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