yellow terminals

ABF Freight latest LTL carrier to nab Yellow terminals

Less-than-truckload carrier ABF Freight and parent ArcBest Corp. have entered private purchase agreements to acquire two leased properties totaling $11.5 million from defunct Yellow Corp.’s estate, according to a Wednesday filing in a federal bankruptcy court in Delaware.

ArcBest (NASDAQ: ARCB) is acquiring a 108-door terminal on 32.5 acres near Denver for $7 million and a 60-door service center on 12.6 acres near Seattle for $4.5 million.

The company picked up four of Yellow’s terminals valued...

https://www.freightwaves.com/news/abf-freight-latest-ltl-carrier-to-nab-yellow-terminals

Court allows CBRE to sell Yellow’s remaining properties

A Delaware bankruptcy court ruled Friday that Yellow Corp. could retain real estate broker CBRE to sell its remaining terminals, which include 46 owned and 70 leased locations. Counsel for the debtors also said submission of a final Chapter 11 bankruptcy plan to the court will happen in the coming days, ahead of the expiration of the company’s exclusivity period.

According to Friday testimony, the CBRE request was unopposed by stakeholders to the estate, including the official committee of...

https://www.freightwaves.com/news/court-allows-cbre-to-sell-yellows-remaining-properties