YRC Internationally Expects To Get $700 Million CARES Act Loan from U.S. Treasury

YRC Internationally Expects To Get $700 Million CARES Act Loan from U.S. Treasury

OVERLAND PARK, Kan., July 01, 2020 (GLOBE NEWSWIRE) — YRC Worldwide Inc. (NASDAQ: YRCW), the nation’s second biggest less-than-truckload (LTL) shipping company, today announced that the United States Department associated with the Treasury (“UST”) promises to offer a $700 million loan to YRCW under authorization supplied by Subtitle A of Title IV associated with CARES Act.

YRCW and its particular operating organizations Holland, brand brand brand New Penn, Reddaway, and YRC Freight are considerably influenced by the pandemic that is COVID-19. These businesses collectively employ 30,000 professionals that are trucking including 24,000 Teamsters. The CARES Act support is utilized to cover deferred worker health care and retirement expenses along with other contractual responsibilities in addition to to guide crucial money investment. Continue reading “YRC Internationally Expects To Get $700 Million CARES Act Loan from U.S. Treasury”