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(Reuters) -U.S. trucking firm Yellow 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.
Source: Investing.com
