Parcel delivery firm Yodel, a major player in the UK courier industry, is currently exploring strategic development options following a number of approaches, as it faces an uncertain future. Yodel, owned by Logistics Group Holdings (LGH) which is part of the Barclay family, has struggled to achieve sustainable profitability in the face of intense competition.
Recent reports indicate that Yodel’s executive team is urgently seeking a buyer, with The Delivery Group among the possible suitors. Teneo, an insolvency specialist, has reportedly been lined up if the company ends up in administration. Moreover, Evri, owned by the private equity group, is also exploring a sale, according to a Reuters report.
The news editor at Fleet News, Gareth, has highlighted the challenges Yodel faces in achieving sustained growth and profitability. The company has amassed a workforce of 10,000 employees, making it one of the largest courier firms in the UK.
Despite delivering 191 million parcels last year and reporting a 3.4% increase in revenues, Yodel has faced criticism from Citizen’s Advice, which rated it as one of the worst UK courier firms along with Evri, giving them a score of two out of five.
The Barclay family’s finances have also been under scrutiny recently, after Lloyds Banking Group put the Telegraph and the Spectator magazine, owned by the Barclays, up for sale in order to recover a debt of £1.1bn. The Barclays managed to repay the debt using funds from the United Arab Emirates, effectively ending the auction for the Telegraph. However, this complex arrangement has raised concerns and sparked investigations into the deal.
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