Yellow Corporation, formerly known as YRC Worldwide, is a transportation holding company headquartered in Nashville, Tennessee. The company owns several subsidiaries in the transportation and logistics industry. Let’s take a closer look at the companies owned by Yellow Freight and its acquisitions.
Key Takeaways:
- Yellow Corporation is a transportation holding company based in Nashville, Tennessee.
- Yellow Freight is one of the subsidiaries owned by Yellow Corporation.
- Other subsidiaries include national less than truckload (LTL) carrier YRC Freight, regional LTL carriers New Penn, Holland, and Reddaway, and freight brokerage HNRY Logistics.
- Yellow Corporation has acquired Holland, Reddaway, New Penn, and HNRY Logistics.
Yellow Freight Subsidiaries and Affiliated Companies
As the parent company of Yellow Freight, Yellow Corporation boasts a robust portfolio of subsidiaries and affiliated companies in the transportation and logistics industry. These entities play a vital role in providing a comprehensive range of services and solutions for shipping and supply chain needs. Let’s take a closer look at the key players in Yellow Freight’s holdings.
YRC Freight
YRC Freight is the national less than truckload (LTL) carrier under Yellow Freight’s ownership. With over 70 years of experience, YRC Freight delivers reliable and efficient LTL shipping services across the United States. The company’s extensive network covers the entire country, ensuring prompt deliveries and exceptional customer service.
Holland, Reddaway, and New Penn
In addition to YRC Freight, Yellow Freight owns several regional LTL carriers, including Holland, Reddaway, and New Penn. These companies provide localized shipping solutions, catering to specific regions within the United States. With their strong regional presence and dedicated teams, Holland, Reddaway, and New Penn offer reliable transportation services and contribute to Yellow Freight’s expansive network.
HNRY Logistics
Yellow Freight’s portfolio also includes HNRY Logistics, a freight brokerage company. HNRY Logistics specializes in connecting shippers with carriers, offering customized logistics solutions to meet unique shipping requirements. Leveraging their industry expertise and extensive network of carriers, HNRY Logistics ensures efficient and cost-effective freight management for businesses of all sizes.
With these subsidiaries and affiliated companies, Yellow Freight has established a strong foothold in the transportation and logistics industry. Their collective expertise and capabilities enable Yellow Freight to provide comprehensive and reliable shipping solutions to businesses across the country.
| Subsidiary/Affiliated Company | Description |
|---|---|
| YRC Freight | National LTL carrier offering reliable shipping services across the United States. |
| Holland | Regional LTL carrier providing localized shipping solutions. |
| Reddaway | Regional LTL carrier catering to specific regions within the United States. |
| New Penn | Regional LTL carrier offering reliable transportation services. |
| HNRY Logistics | Freight brokerage company connecting shippers with carriers for efficient logistics solutions. |
Yellow Freight’s Financial Troubles and Bankruptcy
Yellow Freight, once a prominent player in the transportation industry, has been hit hard by financial problems and has found itself in a dire situation. In 2023, the company made the difficult decision to file for Chapter 11 bankruptcy protection, seeking relief from overwhelming debts and operational challenges.
One of the key factors contributing to Yellow Freight’s financial struggles is the significant debt load incurred during the acquisition of competitors. While these acquisitions were aimed at expanding the company’s reach and capabilities, the integration process proved to be more challenging than anticipated, resulting in inefficiencies and increased costs.
Furthermore, the global pandemic further exacerbated Yellow Freight’s financial woes. In an effort to stay afloat during the challenging times, the company received a federal loan of $700 million. However, this loan now poses a significant burden, as Yellow Freight owes $730 million to the federal government, which holds a 30% stake in the company.
Despite efforts to restructure and negotiate with bondholders, Yellow Freight struggled to achieve profitability. Since 2009, the company has only managed to report three profitable quarters. The road to recovery will be challenging, but Yellow Freight remains determined to navigate through this difficult period and emerge as a stronger and more sustainable entity in the future.
FAQ
What companies does Yellow Freight own?
Yellow Freight owns several subsidiaries, including YRC Freight, Holland, Reddaway, New Penn, and HNRY Logistics.
What are the subsidiaries and affiliated companies of Yellow Freight?
The subsidiaries and affiliated companies of Yellow Freight include YRC Freight, Holland, Reddaway, New Penn, and HNRY Logistics.
What are Yellow Freight’s financial troubles and bankruptcy?
Yellow Freight faced financial difficulties, leading to its ceasing operations and filing for Chapter 11 bankruptcy protection in 2023. The company owes $730 million to the federal government, which owns 30% of the corporation, as a result of a $700 million pandemic loan received in 2020.