Trucking freight company Yellow announced Sunday it had filed for Chapter 11 bankruptcy protection after shutting down its operations last month. The 99-year-old business struggled under mounting debts—including about $730 million owed to the federal government after receiving a $700 million pandemic relief loan—and a protracted battle with the Teamsters union, which represented some 22,000 of the company’s 30,000 employees. All of Yellow’s staff will now be out of a job. “It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” Yellow CEO Darren Hawkins said in a statement. “Today, it is not common for someone to work at one company for 20, 30, or even 40 years, yet many at Yellow did. For generations, Yellow provided hundreds of thousands of Americans with solid, good-paying jobs and fulfilling careers.”
