YRC Worldwide (NASDAQ: YRCW) announced it expects to receive a $700 million loan from the United States Department of the Treasury under the CARES Act.
The largest less-than-truckload (LTL) carrier has been facing mounting financial pressure amid the pandemic to fund obligations to its 30,000 employees. The company is delinquent in making health and welfare as well as pension payments to funds that support its union and non-union employees.
The press release said the company plans to use the...
https://www.freightwaves.com/news/breaking-news-yrc-to-receive-700-million-cares-act-loan