Trucking Giant Yellow Files for Bankruptcy After Failing to Reach Deal With Union

Yellow Corp., one of the nation's largest trucking companies, filed for Chapter 11 bankruptcy protection.
The company received a $700 million pandemic loan from the government but still struggled with debt and tense relations with the Teamsters union.
Yellow's bankruptcy comes after contentious contract negotiations with the union broke down, leading to the company's closure.
The bankruptcy resulted in 30,000 lost jobs and leaves uncertainty around the $700 million taxpayer-funded loan.
Industry analysts cite poor management decisions and financial struggles dating back years as factors in Yellow's demise.