YRC Worldwide Closes In on Restructuring

July 12, 2011: YRC Worldwide is one step away from completing its financial restructuring by a July 22 deadline, a key official at the $4.4 billion trucking company said Monday.

The company secured a $400 million asset-based loan facility from its lenders, and now must raise $100 million through the sale of convertible securities to its lenders.

Click here to read more at The Journal of Commerce.

Get Advice Join TDU Donate

Recent News

Yellow Trims Losses: Best Quarter in Six Years

Yellow Corporation released its first quarter financials on May 10. The company shows strong improvement but is still not profitable. Yellow’s overall operating ratio of 99.3 percent is 3 percent better than a year ago, but well below other LTL carriers, including ABF and TForce.

 

Sysco Profits Up

Sysco Corp announced its quarterly financial report on May 10, with profits and revenue both up dramatically since last year.  Profits for the quarter were $303.33 million, up from $88.9 million last year. Revenue rose 43% from $11.8 billion to $16.9 billion.

View More News Posts