Various real estate investors have entered agreements to acquire four terminals valued at $3.95 million from Yellow Corp.’s estate, according to a filing with a federal bankruptcy court in Delaware. The defunct less-than-truckload carrier has liquidated more than 200 terminals fetching roughly $2.4 billion since filing for bankruptcy in 2023.
The owned properties include a 50-door terminal in Birmingham, Alabama, valued at $1.55 million, a 30-door terminal near Pittsburgh ($1.53 million), a 29-door facility in Columbia, South Carolina ($650,000) and a 12-door terminal in Fairfield, Maine ($225,000).
It appears no LTL carrier is involved in the latest asset sales.
Proceeds from the property sales will be used to settle claims filed against the estate, including employee claims for PTO, sick time and amounts sought under the Worker Adjustment and Retraining Notification Act.
In March, the Teamsters union appealed a prior court ruling freeing Yellow from WARN liability.
A recent filing with the court showed the estate held $621 million in cash at the end of May. Yellow has paid more than $165 million in legal and advisory fees since the liquidation began.
More FreightWaves articles by Todd Maiden:
- Cold storage provider Lineage announces expansion in Canada
- Cass Freight Index: Shipments down, rates up in May
- Forward Air chairman, 2 directors leave after shareholder vote
The post Yellow Corp. selling 4 terminals for $4M appeared first on FreightWaves.
