YRC Global 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 2nd biggest less-than-truckload (LTL) shipping company, today announced that the usa Department associated with Treasury (“UST”) promises to supply a $700 million loan to YRCW under authorization given by Subtitle A of Title IV associated with CARES Act.

YRCW and its own working organizations Holland, brand New Penn, Reddaway, and YRC Freight have already been notably influenced by the COVID-19 pandemic. These businesses collectively employ 30,000 professionals that are trucking including 24,000 Teamsters. The CARES Act help will likely be utilized to fund deferred worker health care and retirement expenses as well as other contractual responsibilities along with to aid important money investment.

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YRCW CEO Darren Hawkins stated, “We want to thank Congress for moving the CARES Act together with …

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