“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.

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