YRCW YRC Worldwide Inc

SCHEDULE 13D

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This statement on Schedule 13D (“Schedule 13D”) relates to 1,750,000 shares of common stock, $.001 par value per share (the “Common Stock”), of YRC Wolrdwide Inc., a Nevada corporation (the “Issuer”), whose principal executive offices are located at 10990 ROE AVENUE OVERLAND PARK KS 66211

(a)          This Schedule 13D is filed by Barna Capital Group Ltd. who is referred to herein as the “Reporting Person.”

(b)          The Reporting Person’s business address is Panagioti Symeou 2, Block C, Suite 4, Limassol, Cyprus, 3105

(c)          Mr. Romanyuk is the Chairman of the Board and a director of Barna Capital Group Ltd..

(d)          During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)          During the last five years, the Reporting Person has not been a party to any other civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)           Mr. Egor Romanyuk is a citizen of Canada.

All shares owned by Egor Romanyuk and Barna Capital Group directly. Bought with own funds.

The filer, being largest active investor in the company, intends to file form DEF 14A to require the shareholders to vote on certain changes that the filer will bring forward. The filer believes that certain changes to the board and upper/middle management of the company are necessary to finally provide a clear path to a brighter future for the company. The filer will nominate new board members for the company apart from the 2 members that are representing the Teamsters Workers Union.

The filer believes that current management / board of directors of the company cannot provide necessary operating guidance to the company to provide constant profitability. Shares of the company lost over 90% of their value in the last two years, the same time period the current management team has been engaged. Management/Board has failed to motivate employees, optimize operations and guide company to strong financial results. Although some changes are being made since the ratification of the contract with Teamtsers union. The filer does not suggest replacing the whole management team/board, but make necessary adjustments to the team. 

On Friday, March 13th 2020, the company filed a release stating that revenue per hundredweight decreased mid-single digits. At the same time, most direct competitors have shown increases in revenue per hundredweight in the same period. While management is well aware of the financial situation and loan covenant of minimum $200 million LTM EBITDA, they have allowed softer pricing while volumes fell at the same time. 

The company is a defendant in numerous class action and derivative cases since 2018. All of the actions are directly related to managements decisions or, adversely, the lack of. The filer believes that the companys history of promoting executives within the company has not proven to be the best course of action and believes that some team members from outside the company will show better results

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(a)          The Reporting Person may be deemed to be the beneficial owner of 1,750,000 shares of Common Stock. Such 1,750,000 shares represent approximately 5.2% of the outstanding shares of Common Stock.

(b)          The Reporting Person has the sole power to vote or to direct the vote or to dispose or to direct the disposition of 1,750,000 shares.

Not applicable.

Not applicable.

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Signatures

After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.