Previous Dominion Freight Line affords $1.5 billion for Yellow’s 169 terminals

Lower than truckload large Previous Dominion Freight Line has supplied $1.5 billion for Yellow Corp.’s nationwide community of 169 terminals, topping the sooner $1.3 billion bid by rival Estes Categorical Traces.

All of Yellow’s huge actual property holdings are up on the market as a part of the corporate’s Chapter 11 chapter liquidation. Yellow filed for chapter Aug. 18  after asserting it was ceasing operations earlier. 

The Wall Road Journal studies Previous Dominion’s bid would cowl the debt Yellow took on earlier than submitting for chapter. The Journal additionally stated Previous Dominion’s “supply is topic to greater or higher proposals at a court-supervised public sale, for Yellow’s properties.”

Previous Dominion has 256 terminals in 48 states. The corporate based mostly in Thomasville, North Carolina has 24,000 staff together with 12,000 drivers.

In its chapter submitting, Yellow is claimed to have had $2.15 billion in belongings, and $2.59 billion in liabilities, together with the $700 million it owes the federal authorities for a pandemic-era mortgage.`  

Yellow can even unload its fleet of some 12,700 tractors and 42,000 trailers.