Another block of bankrupt less-than-truckload carrier Yellow Corp.’s terminals are set to be sold, according to filing with a federal bankruptcy court in Delaware. A Monday motion to the court asked for approval to sell 10 locations valued at $20.7 million. Saia (NASDAQ: SAIA) is acquiring three leased properties for $6.5 million. The locations include a 72-door terminal in Orlando, Florida, a 54-door terminal in Deer Park, New York, and 21 doors in Calexico, California. Once the closes, the LTL carrier will have acquired 31 terminals from Yellow’s estate for roughly $250 million. It spent last year opening 21 of the 28 locations it acquired from the first two auctions of Yellow’s (OTC: YELLQ) real estate. Saia was also active relocating other terminals to better-suited spaces in 2024. Saia’s expansion has allowed it to cement a position as a national carrier serving all 48 contiguous states. However, costs associated with onboarding the new sites and growing tonnage at an industry-leading pace caught up with it in the first quarter, when it missed expectations and saw its shares tumble 30%. Some of Yellow’s old terminals will be acquired by buyers not active in previous sales. Moon Star Express, a Michigan-based fleet with 300 trucks and 600 trailers serving the auto industry, is acquiring an 80-door terminal valued at $10 million in Pontiac, Michigan, through its affiliate M Way Holding. Borg Enterprises, an affiliate of Northland Towing, is acquiring a 27-door terminal in Fargo, North Dakota, for $1.6 million. Specialty foods company Baldor is acquiring an 18-door terminal near Portland, Maine, for $1.55 million. United Holding Group (Aman Truck Lines) is buying 46 doors in Atlanta, Illinois, for $450,000. The group was active in Yellow’s first auction, acquiring two terminals valued at $4.7 million. Various real estate investment firms rounded out the bidding on sites that included a 28-door location in Hubbard, Ohio, for $140,000, a 24-door terminal in Mobile, Alabama, for $480,000 and a 3.5-acre piece of real estate in Goodland, Kansas, for $25,000. The estate has unloaded more than 200 terminals valued at roughly $2.4 billion since the liquidation began at the end of 2023. More FreightWaves articles by Todd Maiden: Forward Air looks for a fresh start in Delaware Tariffs trim Schneider National’s 2025 growth expectations Losses continue to mount at Heartland Express The post Saia, others buying 10 Yellow Corp. terminals appeared first on FreightWaves. View Comments
Saia, others buying 10 Yellow Corp. terminals
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