Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
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What’s the bet they pocketed most of that money and then closed.
🎵Look at the stars, look how they shine for you. 🎵
What’s their burn rate that they’re going bankrupt after 700M in cash?
At 30,000 employees that’s only $23,000/person. I’m sure payroll alone is well North of $700M per year.
Thanks for doing the math
I’m sure I can find it in the article but what kind of bankruptcy? Are investors walking away with bruises?
Stock fell on Thursday, declared bankruptcy Friday.
