KANSAS CITY – The wobbly LTL giant YRC Worldwide announced it will get an infusion of $100 million in new capital and increased liquidity so it can move ahead with its restructuring plan.

More than 95 percent of the senior secured lenders have approved the restructuring documentation, as have 100 percent of the company’s multi-employer pension funds, along with the International Brotherhood of Teamsters, according to the Kansas City Star.

John Lamar, YRC’s chief restructuring officer and lead director, said the company is on target to close the restructuring by July now that the latest agreement is in place.

However, the Star notes that "shareholders will be nearly wiped out, because the deal will turn at least 97.5 percent of the company over to new owners" which are now made up mostly of YRC’s unpaid lenders as well as employees represented by the Teamsters union.

YRC has closed terminals, laid off employees, negotiated three rounds of concessions with the Teamsters, made changes in leadership, and other efforts to keep the company going.