The sale of bankrupt Yellow Corp.’s remaining properties is moving forward, a Wednesday filing in a federal bankruptcy court in Delaware showed. The estate will accept nonbinding indications of interest for its remaining 112 terminals beginning Tuesday and running through Oct. 18.
The court recently allowed Yellow (OTC: YELLQ) to retain real estate broker CBRE to sell the remaining terminals. Yellow will work through the broker and investment banker Ducera to move 47 owned and 65 leased locations, which have been estimated to bring in hundreds of millions of dollars.
The remaining owned locations range in size from as few as eight dock doors (Quebec, Canada) to as many as 426 (Chicago Heights, Illinois). There are a handful of other very large owned terminals in markets like Maybrook, New York (304 doors); Cincinnati (216 doors); and Tennessee markets Chattanooga (198 doors) and Memphis (198 doors). In total, 3,165 doors remain in the owned terminal portfolio…