“Milestone” reached by YRCW, restructuring scheduled to close in July

May 3, 2011: YRC Worldwide (YRCW), the financially ailing second-largest less-than-truckload (LTL) company which has lost in excess of $2.7 billion the last four years, says it has reached another “milestone” in its long-awaited restructuring plan now scheduled for completion in July.

Under terms of its latest debt swap plan, supported by more than 95 percent of its senior secured lenders, shareholders will hold less than 2.5 percent of YRCW stock, which has been battered throughout the worst recession to hit trucking companies in more than 70 years.

Click here to read more at Logistics Management.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

UPS Contract Unity Signs

Order your signs to build Teamster unity and send the company the message that we won’t accept contract givebacks or a weak deal.

Download the Latest UPS Contract Update

UPS made $5 billion last year.  But the company is demanding givebacks and a substandard contract.

National UPS contract talks will be held from June 18-21.

While the company is at the bargaining table, members will be in parking lots and at UPS guard shacks and gates, passing out a Contract Update to let other UPSers know about some of the issues that are on the table and raising awareness of company demands that we need to defeat.

View More News Posts