Yellow Cab to file bankruptcy in SF, will release new app to battle Uber and Lyft
Jan08
Your undying love for Uber and Lyft are helping to destroy the taxi industry in San Francisco. That, and a ton of lawsuits. Yellow Cab will soon file for reorganizational bankruptcy, and cites dwindling business (thanks to rideshare companies) as a major factor. Yellow Cab Co-Op President Pamela Martinez told members it was in a period of “serious financial setbacks.” While Martinez admitted lawsuits relating to accidents are also a contributing cause for its poor financial state, she also said the co-op is “faced with fiscal obligations that far exceed expected income.” Yellow Cab currently has about 530 medallion holders,…
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