Yellow Corp: going-concern / distress — Bankruptcy Court approves $1.883B sale of 130 properties to 21 bidders; XPO leads with $870M

Yellow Corp

Total purchase price of $1,882,637,655 for 128 owned and 2 leased properties approved by Bankruptcy Court on Dec 12, 2023.
Largest buyer XPO, Inc. at $870M; other public buyers include Saia ($235.7M), Knight-Swift ($51.3M), ArcBest ($30.2M).
Sales under Section 363 of Bankruptcy Code; remaining real property to be sold at a later date.
Yellow Corporation filed Chapter 11 on August 6, 2023; this sale is part of the liquidation process.

item 1.01 item 1.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Yellow Corp entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2023-08-06).

Proceeding: chapter 11
Court: U.S. Bankruptcy Court for the District of Delaware
Petition: 2023-08-06

Exact text from the filing

on August 6, 2023 (the " Petition Date "), Yellow Corporation (the " Company ") and certain of its direct and indirect subsidiaries (collectively, the " Company Parties "), filed voluntary petitions for relief (the " Chapter 11 Cases ") under Chapter 11 of the U. S. Bankruptcy Code in the U. S. Bankruptcy Court for the District of Delaware (the " Bankruptcy Court "). The Chapter 11 Cases are being jointly administered under the caption In re: Yellow Corporation, et al., Case No. 23-11069.

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Source: SEC EDGAR

accession 0001193125-23-296122

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