Three former Yellow Freight locations in Summit County could see new life in 2024


Three Yellow Freight terminals in Summit County that were closed after the transportation company collapsed this summer could see new life in 2024.

Yellow Corp., headquartered in Nashville, filed for Chapter 11 bankruptcy protection on Aug. 6, leaving the company’s 30,000 employees looking for jobs. About 600 employees in Summit County were affected, according to union estimates at the time.

Since filing for bankruptcy, Yellow has been selling off its assets, including three terminals in Green, Richfield Village and Copley Township. Other sites around Ohio have also attracted bidders.

Court documents show Estes Express Lines placed winning bids for the Copley and Richfield sites, while Saia Motor Freight Line picked up the Green location.

Months later, Yellow bankruptcy still has a ways to go

The bankruptcy of the $5.2 billion company is still working its way through the court system, and sales of the Copley, Richfield and Green sites haven’t been completed.

In Richfield, at least, Estes hasn’t communicated its plans to the village, Mayor Michael Wheeler said Friday in an email.

Estes, based in Richmond, Virginia, is the largest privately owner freight hauler in North America, according to its website.

Yellow Freight signage remains on the Copley Township terminal on Wednesday despite a winning bid in bankruptcy court on the property from Estes Express.Yellow Freight signage remains on the Copley Township terminal on Wednesday despite a winning bid in bankruptcy court on the property from Estes Express.

Yellow Freight signage remains on the Copley Township terminal on Wednesday despite a winning bid in bankruptcy court on the property from Estes Express.

Bankruptcy court documents from Dec. 4 don’t break down individual purchases, but they show Estes paid about $249 million for 24 former Yellow properties, including the Copley and Richfield sites.

Saia, based in Johns Creek, Georgia, bid about $236 million for 17 properties, including the one in Green.

No signs of new owner at Copley location

In Copley, little activity was apparent Wednesday at the former Yellow Freight terminal on OH Avenue.

Dozens of unused trailers line the property, and concrete blocks bar access at the main entrance.

With the bankruptcy proceedings extending into 2024, it isn’t immediately clear when Estes and Saia will begin to operate at the terminals.

Leave a message for Alan Ashworth at 330-996-3859 or email him at aashworth@gannett.com. Follow him on Twitter at @newsalanbeaconj.

This article originally appeared on Akron Beacon Journal: What’s going on at 3 former Yellow Freight locations in Summit County?



Source link