The bankruptcy court has granted approval to Nations Capital and Ritchie Bros. Auctioneers to act as the representative and seller for Yellow Corporation’s transportation assets. These two firms will oversee the relocation, transportation, refurbishment, inventory management, storage, and eventual sale of Yellow’s fleet of vehicles. The sale will encompass approximately 60,000 units of trucks, trailers, and various LTL (Less-Than-Truckload) support equipment distributed across more than 300 terminal locations in the United States and Canada.
As per NCI and Ritchie Bros.’ statement, they intend to employ a comprehensive sales approach, incorporating private negotiations and bulk sales, along with both live and digital auction methods. Their goal is to optimize the value of the trucks and trailers throughout the year 2024.
“We are honored to provide Yellow Corporation a comprehensive solution to maximize the value of its rolling stock assets,” said Jim Burke, executive vice president of NCI. “The historic size and complexity of this transaction required a highly coordinated effort between the teams at NCI, Ritchie Bros. and the company. Together with Ritchie Bros., we are prepared to lead one of the largest disposition events in our industry.”
For nearly a century, Yellow Corporation stood as one of North America’s major players in logistics and Less-Than-Truckload (LTL) transportation networks, offering services at the local, regional, national, and international levels. However, due to ongoing financial challenges, the company eventually ceased its operations and initiated Chapter 11 bankruptcy proceedings in early August.
“We are excited to offer the market this extensive fleet of trucks, trailers and support equipment from what was one of North America’s largest carriers,” said Zac Dalton, executive vice president of NCI.
