FW: Auction for Yellow’s terminals ‘remains ongoing’

FREIGHTWAVES reports:

An auction for Yellow Corp.’s terminals hasn’t ended yet, a Delaware court filing revealed late Friday.

The auction for the bankrupt company’s less-than-truckload terminals began Tuesday morning, with an expectation that winning bids would be revealed Friday. The court document said it may now be Tuesday (Dec. 5) before the new owners of the service centers are made public.

Yellow operated roughly 300 terminals before it ceased operations at the end of July. Some of its property leases have already been terminated. However, parties interested in its more than 170 owned terminals were required to have their bids in by Nov. 9.

Less-than-truckload carrier Estes’ $1.525 billion stalking horse bid was named as the winning bid for the facilities in late September. That offer set the price floor for the current auction process…

The full post is here.