Parcel delivery firm Yodel has said it is in the “final stages” of talks over options for the company amid concern over its future.
The company, which employs about 10,000 people, said discussions with “interested parties” were ongoing and “constructive”.
Reports suggest the firm is looking for a buyer, and that it could call in administrators if one is not found.
Yodel said its “operations continue without any disruption”.
The firm is owned by the Barclay family and one of its largest 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.
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Yodel is one of the biggest courier companies in the UK. Last year, 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.
According to Yodel’s website the company works with retailers such as Zara, JD Sports and John Lewis, although the BBC understands that the firm only delivers a small percentage of John Lewis goods.
Retail analyst Catherine Shuttleworth told the BBC that the market for delivering parcels was “incredibly competitive, it’s really cut-throat”.
“Yodel have got stuck in a place where they’re a small player in what has become a very, very big market,” she said.
However, if Yodel left the market she does not think retailers will have a problem finding alternative couriers.
“They’ll swap to an alternative supplier, the market is full of them. They’ll very easily shift their volume to somebody else.”
Parcel delivery firms will be getting hit hard by the cost of living crisis and the sad thing is other delivery firms will easily be able to absorb the Yodel contracts without needing to take on (m)any new people, so those 10,000 workers will be largely out on their ear.
I worked for Yodel back in 2011-2013. Honestly, I’m amazed they’ve lasted this long. Absolutely horrid company to work for.
Would you be able to give us details on what happened there?
This is the best summary I could come up with:
Parcel delivery firm Yodel has said it is in the “final stages” of talks over options for the company amid concern over its future.
On Wednesday, Sky reported that the Barclay family was urgently seeking a buyer for Yodel, with The Delivery Group among the possible suitors.
A Yodel spokesperson said: "In the summer of 2023, following a number of unsolicited approaches, we hired advisers to carry out a full strategic review.
Retail analyst Catherine Shuttleworth told the BBC that the market for delivering parcels was “incredibly competitive, it’s really cut-throat”.
The Barclay family’s finances have come under focus after the Telegraph and the Spectator magazine were put up for sale last year by Lloyds Banking Group.
Michael Lynch, a partner at law firm DMH Stallard and insolvency and business restructuring specialist, said: "With the Barclay family finances coming under scrutiny, it may be that Yodel’s lenders are applying pressure for a refinance or exit.
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