NEW YORK — A U.S. bankruptcy court has approved Yellow Corp’s request to sell its fleet of trucks by October while continuing to market their real estate assets.
Those assets have already received a $1.525 million bid by Estes Express Lines.
Yellow filed for bankruptcy in August after a labor dispute. The company owns around 12,000 trucks and 35,000 trailers, according to court documents.
Yellow intends to conduct an auction for its vehicles by Oct 18 and seek court approval for the vehicle sale on Oct. 27.
Yellow blamed its collapse on a labor dispute with the International Brotherhood of Teamsters union, and it terminated about 22,000 union-represented drivers when it went bankrupt. The union has said the Nashville, Tennessee-based company “mismanaged” its way to bankruptcy.
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