Yellow’s rolling inventory to be offered by Ritchie Bros and Nations Capital
Nations Capital and Ritchie Bros. Auctioneers have acquired chapter court docket approval to be the agent and liquidator of Yellow Company’s transportation property.
The businesses will handle the relocation, transportation, refurbishment, stock, storage, and sale of Yellow’s rolling inventory property. The sale will embrace about 60,000 models of vehicles, trailers, and miscellaneous LTL assist tools situated throughout the U.S. and Canada at over 300 terminal areas.
In accordance with a press release from NCI and Ritchie Bros., the 2 corporations will implement what they known as a multi-faceted gross sales technique, together with personal treaty and strategic bulk gross sales, in addition to reside and totally digital codecs, to maximise the worth of the vehicles and trailers all through 2024.
“We’re honored to offer Yellow Company a complete answer to maximise the worth of its rolling inventory property,” stated Jim Burke, govt vp of NCI. “The historic dimension and complexity of this transaction required a extremely coordinated effort between the groups at NCI, Ritchie Bros. and the corporate. Along with Ritchie Bros., we’re ready to guide one of many largest disposition occasions in our trade.”
For almost 100 years, Yellow Company was one of many largest logistics and LTL networks in North America with native, regional, nationwide and worldwide capabilities. After prolonged monetary points, the corporate ceased operations and filed for Chapter 11 chapter in early August.
“We’re excited to supply the market this intensive fleet of vehicles, trailers and assist tools from what was considered one of North America’s largest carriers,” stated Zac Dalton, govt vp of NCI.
Extra particulars in regards to the buy of the rolling inventory property might be discovered at nci.direct or by contacting [email protected].
