Yellow Corp. received U.S. bankruptcy court approval on Friday to sell its vehicle fleet by October, while continuing to market its real estate assets, which have already received a $1.525 billion bid, Reuters reported. The freight shipping company, which went bankrupt in August after a protracted labor dispute, owns approximately 12,000 trucks and 35,000 trailers, according to its bankruptcy court filings. Yellow has set an Oct. 13 bid deadline for those assets. Hundreds of buyers have already expressed interest and signed non-disclosure agreements, and some have begun conducting on-site inspections, Yellow attorney Allyson Smith told U.S. Bankruptcy Judge Craig Goldblatt at a court hearing in Wilmington, Delaware. "The sale process is well underway at this point," Smith said. Yellow intends to conduct an auction for the vehicles by Oct 18 and seek court approval for the vehicle sale on Oct. 27.
