Yellow Corp., a once-dominant US trucking company, has filed for bankruptcy as it winds down its 99-year-old business that employs 30,000 workers.

The Nashville-based logistics provider announced Sunday it had filed for Chapter 11 relief in the US Bankruptcy Court for the district of Delaware.

“It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business,” CEO Darren Hawkins said in a statement.

One of the nation's largest trucking companies, Yellow, has filed for bankruptcy less than two weeks after announcing its closure.

The business, which has been around for 99 years, said it made the decision so that it could close its operations in an "orderly" way. It was just three years ago that the major trucking company received a $700 million pandemic-era lifeline from the federal government, according to the New York Times.

Yellow Corp.—the third largest less-than-truckload carrier in the U.S.—plans to file for bankruptcy, the union that represents its employees announced Monday, leaving its 30,000 employees without work and U.S. taxpayers wondering how the company can repay the hundreds of millions of dollars the company received in a pandemic era loan from the government.

Some 30,000 employees are out of work Monday after the Teamsters Union announced Yellow, the third ... [+]