Less-than-truckload carrier Yellow Corp. (NASDAQ: YELL) announced Tuesday it will take delivery of 1,200 tractors as part of its ongoing restructuring initiatives.
The Overland Park, Kansas-based company facilitated the equipment purchase using the second tranche of a $700 million Treasury loan the company received in 2020. The highly scrutinized loan made to the carrier described as in “precarious financial condition” at the time was done so under a special carve-out afforded under the CARES...