A big ol' trucking company goes bust.

I'm David Brankachio.

It is now official.

The 99-year-old trucking company called Yellow is just filed for bankruptcy protection.

Yellow was focused on moving smaller shipments, mixing and matching smaller loads to filetruck.

Marketplace's Samantha Fields is here with me Samantha, what happened to Yellow?

Yellow has been struggling financially for years now.

It's deep in debt.

But half its debt is from a $700 million pandemic loan it got from the federal government

when COVID hit.

There are some questions now about whether the company should have gotten that money

since it was already having financial trouble.

But Yellow is mostly blaming contract negotiations with the team's jersey union for its demise.

More than 20,000 of its 30,000 employees are in the union.

They've been in contentious negotiations for months and came close to a walk out earlier

this summer.

A lot of Yellow's customers were getting concerned about the possibility of a strike

disrupting operations and started taking their business elsewhere.

But again, we should say the company has been having financial trouble for years.

All right, but Samantha, what happens now with the company?

Well, about 30,000 people are losing their jobs and as for companies that were working

with Yellow, they're probably going to have to pay more for shipping now.

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