Yellow Cab to file for bankruptcy

By : sfexaminer – excerpt

San Francisco’s largest taxi company is edging toward filing for bankruptcy.

Yellow Cab Co-Op said challenges from tech rivals Uber and Lyft, as well as mounting lawsuits from traffic collisions contributed to the fiscal Hail Mary.

Those “rideshare” companies are headquartered in San Francisco – their home turf.

Regular cab operations will not be affected in the near future and Yellow Cab has no plans to close if it can successfully restructure, representatives said…

Yellow Cab Co-Op is the largest taxi company in San Francisco, with about 530 medallion holding drivers, according to the company. The next largest are DeSoto Cab Co., now Flywheel Taxi, and Luxor Cab. The taxi industry has struggled the past few years against technology rivals like Uber and Lyft, who often offer lower prices for similar services. .. (more)

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