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Yodel puts administrators on standby, reports suggest

DeliveryX

Independent parcel carrier Yodel is “exploring its options”, with reports suggesting the Barclay family is urgently seeking a buyer and insolvency firm Teneo has been lined up if the business is to be put into administration.

On Wednesday, Sky reported that The Delivery Group were among the possible suitors.

Responding to the various reports, a Yodel spokesperson said: “Yodel notes the speculative press coverage regarding the current situation of the company.

“In the summer of 2023, following a number of unsolicited approaches, we hired advisers to carry out a full strategic review. The company has continued to engage with interested parties regarding strategic options for Yodel. We can confirm that these discussions are ongoing, constructive and are in the final stages.

“While these discussions are ongoing, operations continue without any disruption, with thousands of parcels travelling through our network and being successfully delivered throughout the UK.

“Our performance over the last year is testament to the long-term strength and growth potential of the Yodel business.”

In January, Yodel had reported that 2023 was a “record year” with full-year volumes up 3% to 191m parcels, and revenues up 3.4%.

However, there are reports that the accounts of owner Logistics Group Holdings (LGH) are more than a month overdue, according to Companies House records.

The delivery company currently employs 10,000 staff and works with a number of retailers including Argos, AO World and John Lewis.

Furthermore, there were reports last week that Evri, which is owned by private equity group Advent and German postal firm Otto Group, could also be sold off.


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