Nov. 27, 2023 /PRNewswire/ — Irontrax, a leading appraisal and asset disposition company, is proud to announce its participation in the historic sale of assets resulting from the largest freight bankruptcy in history. Under the headline “Irontrax to sell assets from the largest freight bankruptcy in history,” this groundbreaking development presents a unique opportunity for the trucking industry and the U.S. economy at large.
Yellow Freight trailers
The demise of Yellow Freight, a once-prominent trucking company, this past summer was attributed to years of poor management, substantial debts, and labor disputes with the Teamsters union. In its wake, Yellow left behind a nationwide network of 170 truck terminals, 30,000 former employees, and an unparalleled chance for industry rivals to expand their operations.
While other trucking companies have absorbed the daily shipments once handled by Yellow, the sale of these prime properties through bankruptcy opens the door to new possibilities, allowing successful bidders to fast-track their growth. With an industry segment worth approximately $58.7 billion in 2022 and handling an estimated 720,000 shipments daily, the less-than-truckload (LTL) sector is a crucial component of the U.S. economy, serving as the lifeblood connecting factories, distribution centers, and retail stores.
Irontrax, known for its expertise in facilitating asset sales and disposition of assets, is set to play a pivotal role in managing this historic sale, offering an essential platform for industry players to participate in this once-in-a-generation opportunity.
For further information about Irontrax’s involvement in this groundbreaking sale and other inquiries, please contact Joe Santora at (440) 552-1369.
About Irontrax:
Irontrax is a trusted leader in appraisals and asset disposition, serving clients across various industries. With a team of experienced professionals, Irontrax offers tailored solutions to meet the diverse needs of its clients while ensuring transparent, efficient, and profitable asset disposition. Visit https://www.irontrax.com for more information.
SOURCE Irontrax