At the beginning of February, Yodel, the UK parcel delivery company owned by the Barclay family and employing 10,000 people, was facing an uncertain future.
The parcel delivery company seemed to be on the verge of collapse. However, a rescue deal led by the founder of rival operator Shift was struck early on the morning of Tuesday 13 February, averting the fall.
The parcel delivery company seemed to be on the verge of collapse
A newly formed company called YDLGP, backed by Shift executives and Solano Partners, a merchant bank, bought Yodel on a solvent basis without Yodel calling in administrators, which was becoming increasingly likely.
The deal is expected to save thousands of jobs. Yodel delivers parcels for various customers, including Gousto, Argos, Vinted, and Very Group - an online shopping company owned by the Barclay family, who also owned Yodel.
Yodel remains confident in its service levels. “Our performance over the last year is testament to the long-term strength and growth potential of the Yodel business, handling 191 million parcels with revenues up 3.4%,” confirms a Yodel spokesperson.
“The Christmas peak season achieved record service levels, and we have seen parcel volumes through our Out of Home network more than double with the significant rise in demand for customer-to-customer services.”