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Yellow Corp. Fleet Will Be Relocated and Auctioned Off

Yellow Corp.'s stock of trucks and trailers will be relocated to several auctioneers to be sold.

Posted October 30, 2023

Trucking-firm Yellow Corp. will be listing its supply of trucks, trailers and equipment after the company was approved for bankruptcy last week.

Yellow received approval from the U.S. Bankruptcy Court in Delaware on Friday and will now use a third-party company to sell off its stock of trucks and trailers as part of its new deal with the court. The court approved the deal with Nations Capital LLC, Ritchie Bros. Auctioneers Inc. (America and Canada) and IronPlanet Inc. (America and Canada).

Yellow previously wanted to sell its inventory through a court auction, however, chose to use outside parties in order to clean out its real estate faster.

According to the deal, part of the gross proceeds collected by Yellow will be paid to the auctioneers through fees. Fees begin at 9.25 percent for gross proceeds up to $475 million and range to as high as 15.5 percent for gross proceeds exceeding $800 million. 

Yellow filed for Chapter 11 bankruptcy back in August, resulting in layoffs totaling around 30,000 employees.

View the Yellow court document, here.