San Francisco's largest taxi company considers filing for bankruptcy

Yellow Cab said an unusual number of accident claims this year had an impact on business, not to mention competition from ride-hail services like Uber and Lyft

The largest taxi company in San Francisco is considering filing for Chapter 11 bankruptcy, the latest sign of turmoil in a global industry beset by competition from app-based ride-hail services.

Pamela Martinez, the president of Yellow Cab Co-Op, which operates nearly a third of the city's 1803 taxis, cited "serious financial setbacks" and "business challenges beyond our control and ... of our own making" in a letter to the company's shareholders.