Nashville, July 31 - U.S. transportation giant Yellow Corp. announced its shutdown and immediate cessation of operations, a sudden move that has shocked the freight industry and will leave approximately 30,000 employees jobless.

According to The Wall Street Journal, this is the largest bankruptcy in the history of the U.S. trucking industry. Yellow Corp. is now preparing to file for bankruptcy and is negotiating the sale of all or part of its business.

The International Brotherhood of Teamsters stated that this is a sad day for workers and the U.S. freight industry.

Yellow公司目前未償還債務(wù)約為15億美元，其中包括欠聯(lián)邦政府的約7.3億美元。今年第一季度的業(yè)績(jī)顯示，公司虧損金額達(dá)5460萬(wàn)美元。截至6月30日，Yellow公司的現(xiàn)金和現(xiàn)金等價(jià)物僅有1億美元。

Earlier, Yellow Corp. avoided a strike threat from 22,000 truck drivers representing workers after paying over $50 million in overdue worker benefits and pensions.

YellowRoadway集團(tuán)成立于1924年，擁有99年的歷史，年銷售額一度高達(dá)95億美元，曾連續(xù)三年被《財(cái)富》雜志評(píng)選為最受敬仰的運(yùn)輸企業(yè)。

The companys clients include major retailers such as Walmart and Home Depot, as well as freight giant UberFreight, some of which have suspended cooperation due to concerns about potential loss or delay of goods.

Historically, in 2020, the administration of former U.S. President Donald Trump provided a $700 million pandemic relief loan to rescue Yellow Corp. in exchange for a 30% stake.

The shutdown of Yellow Corp. is not only a significant loss for the transportation industry but also signals potential challenges and uncertainties facing the entire sector. Analysts suggest this may trigger a series of supply chain issues, further exacerbating global supply chain tensions.