“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.

Get Advice Join TDU Donate

Recent News

Zoom Call for IBT Election Volunteers on Saturday, August 14

TDU will hold a national zoom call on Saturday, Aug. 14 for Teamsters who are volunteering to elect the O’Brien-Zuckerman Teamsters United Slate. Join candidates, campaign coordinators and Teamster activists for an update and to make plans to Get Out the Vote and win this fall. Click here to register. 

Central States Assets Fall – But Relief is Coming!

The assets of the Central States Pension Fund fell to $9.8 billion at the end of March, a drop of $573 million in the first quarter.  The fund projects forward that it will pay $2.83 billion in pension benefits this year, while taking in $651 million in employer contributions.

View More News Posts