As confirmed by the struggling US trucker YRC Worldwide, the firm is again looking to extend a crucial debt-for-equity offer that it needs to stay in business successfully, and is currently in the process of convincing bondholders to send in their support and participation.

On Tuesday, the company shared that 81% of the firm's outstanding notes, which total a whopping $536.8 Million, had been tendered for an exchange for equity, which is a rise of the 80% figure shared a week ago, but the amount if still less than the needed threshold.

In light of the news, YRC shared recorded a 10 cents rise to $1.05. Analysts are continually speculating whether or not the company would be forced into bankruptcy.

"I don't know what is left for them to do right now. It continues to be a game of financial chicken", said Dahlman Rose industry analyst Jason Seidl.

If the exchange at hand goes ahead successfully, 7 out of YRC's 9 directors would be replaced. The firm's lenders would also let it start deferring payments which amount to about $25 Million a quarter in interest and fees, in addition to allowing open access to a credit line of $106 Million.