{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-204370","form_type":"8-K","ticker":null,"cik":"0000716006","company_name":"Yellow Corp","filed_at":"2023-08-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.476762+00:00","generated_at":"2026-06-12T05:09:04.634041+00:00","sec_items":["1.03","2.03","2.04","5.02","7.01","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Yellow Corporation files Chapter 11, plans wind-down, 30,000 jobs lost","bullets":["Voluntary Chapter 11 petitions filed Aug 6, 2023; expects operational wind-down and DIP financing.","CEO Darren Hawkins blames Teamsters for nine-month blockade causing $137M+ adjusted EBITDA loss.","30,000 union and non-union employees to lose jobs; company partners with ATA for job placement.","Douglas Carty replaces Matthew Doheny as Board Chair; Doheny becomes CRO; Doheny and Javier Evans resign from board.","Nasdaq delisting expected; company will not appeal; equity holders likely face total loss."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-204370","json":"https://secwatch.observer/filing/0001193125-23-204370.json","markdown":"https://secwatch.observer/filing/0001193125-23-204370.md","text":"https://secwatch.observer/filing/0001193125-23-204370.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/d483482d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T05:09:04.634041+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c05305f93e64ee9eba7e008efce4524ce33a877b","claim":"Yellow Corp faced acceleration on term loan with The Bank of New York Mellon.","evidence_excerpt":"The filing of the Chapter 11 Cases constitutes an event of default that accelerated the Company’s obligations under the following debt instruments and agreements (collectively, the “ Debt Instruments ”): • Amended and Restated Credit Agreement, dated as of September 11, 2019, as amended, by and among the Company, certain of the Company’s subsidiaries party thereto from time to time, the lenders party thereto from time to time and Alter Domus Products Corp., as administrative agent and collateral agent; • Loan and Security Agreement, dated as of February 13, 2014, as amended, among the Company, as administrative borrower, the other borrowers named therein, the guarantors party thereto from time to time, certain financial institutions from time to time party thereto as lenders, and Citizens Business Capital, a division of Citizens Asset Finance, Inc. (a subsidiary of Citizens Bank, N.A.), as agent, and Citizens Bank, N.A. and PNC Capital Markets LLC, as joint lead arrangers and joint boo","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Counterparty","value":"The Bank of New York Mellon"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"d8e2e68cfb64a997276ce718d445df823b7ee7fe","claim":"Yellow Corp faced acceleration on credit facility with Alter Domus Products Corp..","evidence_excerpt":"The filing of the Chapter 11 Cases constitutes an event of default that accelerated the Company’s obligations under the following debt instruments and agreements (collectively, the “ Debt Instruments ”): • Amended and Restated Credit Agreement, dated as of September 11, 2019, as amended, by and among the Company, certain of the Company’s subsidiaries party thereto from time to time, the lenders party thereto from time to time and Alter Domus Products Corp., as administrative agent and collateral agent;","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Counterparty","value":"Alter Domus Products Corp."},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"f086c8c3b4220d8bdaeb19e4cc09821397c3faf0","claim":"Yellow Corp faced acceleration on loan with Citizens Business Capital, a division of Citizens Asset Finance, Inc..","evidence_excerpt":"The filing of the Chapter 11 Cases constitutes an event of default that accelerated the Company’s obligations under the following debt instruments and agreements (collectively, the “ Debt Instruments ”): • Amended and Restated Credit Agreement, dated as of September 11, 2019, as amended, by and among the Company, certain of the Company’s subsidiaries party thereto from time to time, the lenders party thereto from time to time and Alter Domus Products Corp., as administrative agent and collateral agent; • Loan and Security Agreement, dated as of February 13, 2014, as amended, among the Company, as administrative borrower, the other borrowers named therein, the guarantors party thereto from time to time, certain financial institutions from time to time party thereto as lenders, and Citizens Business Capital, a division of Citizens Asset Finance, Inc. (a subsidiary of Citizens Bank, N.A.), as agent, and Citizens Bank, N.A. and PNC Capital Markets LLC, as joint lead arrangers and joint boo","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Counterparty","value":"Citizens Business Capital, a division of Citizens Asset Finance, Inc."},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"aac59d3d36f79e89504a1f56c7c6c39724837942","claim":"Yellow Corp entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2023-08-06).","evidence_excerpt":"On August 6, 2023 (the “ Petition Date ”), Yellow Corporation (the “ Company ”) and certain of its direct and indirect subsidiaries (collectively, the “ Company Parties ”) filed a voluntary petition (the “ Chapter 11 Cases ”) under Chapter 11 of the U.S. Bankruptcy Code (the “ Bankruptcy Code ”) in the U.S. Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”).","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.9,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"U.S. Bankruptcy Court for the District of Delaware"},{"label":"Petition","value":"2023-08-06"}],"fact_type":"distress_event"},{"claim_id":"2ac71dbdc6","claim":"Matthew Doheny resigned as Director at Yellow Corp.","evidence_excerpt":"Additionally, as of July 31, 2023, each of Mr. Doheny and Javier Evans resigned from their position as a director on the Board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"4a7e70fadb","claim":"Douglas Carty was appointed as Chair of the Board at Yellow Corp.","evidence_excerpt":"On July 27, 2023, Douglas Carty replaced Matthew Doheny as the Chair of the Board of Directors of the Company (the “ Board ”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chair of the Board"}],"fact_type":"executive_change"},{"claim_id":"57cca2d82e","claim":"Javier Evans resigned as Director at Yellow Corp.","evidence_excerpt":"Additionally, as of July 31, 2023, each of Mr. Doheny and Javier Evans resigned from their position as a director on the Board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"9dcdb93fd4","claim":"Matthew Doheny changed role as Chief Restructuring Officer at Yellow Corp.","evidence_excerpt":"Simultaneously with Mr. Carty’s appointment as the Chair of the Board, Mr. Doheny assumed his role as the Company’s Chief Restructuring Officer (“ CRO ”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/716006/000119312523204370/0001193125-23-204370-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"assumed role of"},{"label":"Role","value":"Chief Restructuring Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}