End of an era: Trucking company Yellow Corp. declares for bankruptcy

Summary:

• Trucking company Yellow Corp. files for bankruptcy, ending 99-year operation and leaving 30,000 jobs at risk.
• Zell users warned about resurgent scam involving fraudulent money transfers disguised as bank inquiries.
• Christmas Tree Shops to close remaining stores after failing to find a buyer, concluding an era of discounted seasonal offerings.
• ABC News finance expert, Alexis Christophers, offers financial advice to viewers through Instagram.
• ABC News YouTube channel and app provide access to various video content and breaking news alerts.

Trucking company Yellow has officially declared bankruptcy. The 99-year-old trucking company Yellow has officially filed for bankruptcy and will shut down. This closure means the loss of some 30,000 jobs and the bankruptcy follows years of financial struggles for the Nashville-based trucker, including mounting debt and a standoff with the Teamsters Union.

Trucking Giant Yellow Files for Bankruptcy

The once-prominent trucking company, Yellow Corp., which has been in operation for 99 years, has officially filed for bankruptcy. The filing will result in the company's shutdown, leaving 30,000 jobs in jeopardy. This development comes after years of financial difficulties for the Nashville-based trucking giant, including significant debts and conflicts with the Teamsters Union. The closure marks a significant turning point in the trucking industry's history, signaling the end of an era for Yellow Corp.

Fraudulent Scam Targeting Zell Users

Users of the payment app Zell are being warned about the resurgence of an old scam that could result in significant financial losses. Scammers are contacting Zell users, posing as representatives from their banks, and deceiving them into sending money back to themselves. In reality, the money is being sent directly to the fraudsters. The scammers instruct users to disregard any text alerts from their banks about suspicious money transfers. In response to this scam, Bank of America emphasizes that it will never ask clients to send money to themselves or anyone else. Clients are urged to verify questionable inquiries by contacting the customer service number on their debit or credit cards or bank statements.

Christmas Tree Shops Announces Closure

The retail chain Christmas Tree Shops has filed for Chapter 11 bankruptcy, concluding its search for a buyer. As a result, the remaining 49 stores across 16 states will be going out of business. Shoppers have until August 12th to take advantage of the last day sales. The chain had previously started closing stores in June, but the absence of a suitable buyer led to the decision to cease operations entirely. This marks the end of an era for Christmas Tree Shops, a store known for its seasonal offerings and discounted items.

Finance Expert Offers Advice

Alexis Christophers, ABC News business reporter, addresses finance-related queries from the audience. Viewers are encouraged to leave their questions on the Instagram feed, and Alexis may answer them during the next broadcast. This opportunity provides individuals with the chance to receive expert insights and guidance on financial matters.

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