The United States Bankruptcy Court for the District of Delaware has approved a $1.88 billion sale of 130 former Yellow Corp terminals, giving the now-defunct carrier enough cash to to pay off the company's $1.2 billion debt, including $700 million owed on a COVID-19 pandemic relief loan.
XPO was the big spender, picking up 28 service center locations. XPO will purchase 26 service centers and assume existing leases for the other two locations.
A Form 8-K filed with the Securities and Exchange Commission by Yellow Corp. showcases the diversity among all the winning and approved bidders. The bidders’ asset purchase agreements were signed the week of Dec. 4.
Yellow SEC filing
