Yodel ‘exploring options’ amid speculation over future

Yodel 'exploring options' amid speculation over future
A Yodel parcel delivery driver walks in front of a white Yodel van with parcels in a reflective vest in 2018Alamy

Parcel delivery firm Yodel has said it is “exploring options” as speculation grows over the company’s future.

Reports have said the company is looking at calling in administrators after failing to find a buyer.

Yodel employs 10,000 staff and delivers goods for a number of retailers such as John Lewis, Argos and AO World.

The courier firm is owned by the Barclay family and one of its biggest clients is online retailer Very, which is also owned by the Barclays.

On Wednesday, Sky reported that the Barclay family was urgently seeking a buyer for Yodel, with The Delivery Group among the possible suitors.

The BBC has approached the Barclays for comment.

Following the report, Yodel said it was “currently exploring strategic development options following a number of approaches”.

“Any decisions taken will be made in the best interest of our clients, colleagues, and key stakeholders. Yodel’s executive team remains wholly committed to the sustained growth of the business,” it added.

Reports suggest that insolvency specialists Teneo have been lined up if the business is to be put into administration. The BBC has approached Teneo for comment.

Yodel is one of the biggest courier companies in the UK.

Last year, the company said it delivered 191 million parcels, with revenues up 3.4%.

However, last year Citizens Advice rated Yodel as the joint worst of the largest five UK courier firms. Along with Evri, it was given an overall score of two points out of five.

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Source: bbc.co.uk

By David Ryckman