Trucker Yellow Goes Bankrupt After Debt, Labor Woes Pile Up (3)

Yellow Corp.filed for bankruptcy and will remain shuttered — throwing 30,000 people out of work — after the trucking firm’s long-running financial woes were compounded by a dispute with the Teamsters Union.

The carrier will sell its warehouses and trucks in order to repay a pandemic-era, government loan of $737 million and another $485 million in debt it owes private lenders, according to court papers filed Monday in bankruptcy court in Wilmington, Delaware. The Chapter 11 petition gives Yellow breathing room from creditors as it winds down and solicits bids on its assets.

The company’s shares are already reversing ...