Skip to main content

Bankrupt trucker Yellow repays $700 million Covid loan, Teamsters blast ‘failed executives'

·1 min

The bankrupt trucking company Yellow announced on Monday that it has fully repaid a controversial $700 million Covid loan to the U.S. Treasury Department, along with over $151 million in interest. The repayment comes after a federal bankruptcy judge in Delaware approved Yellow’s request to sell most of its shipping centers and real estate for nearly $1.9 billion. However, unsecured creditors, including employee pension funds, are seeking billions of dollars in payouts. The Teamsters labor union criticized Yellow for prioritizing loan repayment over helping its workforce, accusing the company’s management of mismanagement and self-interest.