San Francisco's largest cab company is planning to file for bankruptcy very soon. The competition from transportation network companies is forcing the company, and likely the industry, to completely restructure.
"San Francisco’s largest taxi company is edging toward filing for bankruptcy," reports Joe Fitzgerald Rodriguez. "Yellow Cab Co-Op said challenges from tech rivals Uber and Lyft, as well as mounting lawsuits from traffic collisions," are responsible for the company's financial dire straits.
The expected bankruptcy filing isn't a death knell for the company, or the industry, according to the article. "Regular cab operations will not be affected in the near future and Yellow Cab has no plans to close if it can successfully restructure," reports Fitzgerald Rodriguez.
The article includes statements and background provided by Yellow Cab representatives about the circumstances leading up the bankruptcy filing and how the company will have to evolve to survive in the future.
Read the full story: Yellow Cab to file for bankruptcy
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