Trucking giant Yellow collapsed on Sunday, ceasing operations immediately and leaving some 30,000 workers without jobs.
The closure is the biggest in terms of jobs and revenue in the U.S. trucking industry, according to The Wall Street Journal – which first reported its shutdown.
The company, which received $700 million in federal COVID relief funds in 2020, is preparing to file for bankruptcy and is in talks to sell off all or parts of the business.
The nearly 100-year-old firm is known for its competitive pricing and has more than 12,000 trucks shipping freight across the US for brands including Walmart and Home Depot.
But in recent years it has struggled under the weight of debt and had a highly contentious relationship with the Teamsters union: on Sunday, each side blamed the other.
Hundreds of non-union Yellow employees were laid off Friday from the Nashville, Tennessee, company, and about 22,000 Teamster members were told their jobs hung in the balance.
On Sunday morning, the company sent out notices to customers and employees saying it was ceasing all operations at midday.