Updated: Yodel confirms talks with potential buyers ongoing

Following reports that Yodel had put administrators on standby as it struggled to find a buyer, the parcel delivery firm says constructive talks with interested parties are in the final stages.

The company, which is part of a Barclay-owned entity called Logistics Group Holdings (LGH), has struggled to achieve sustainable profitability amid intense competition.

Accounts for LGH are more than a month overdue, according to Companies House records.

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

Sky reported that administrators were on standby as the Barclay family sought a buyer for Yodel, with The Delivery Group among the possible suitors.

A Yodel spokesperson told Fleet News: “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.”

Yodel handled 191 million parcels in 2023, with revenues up 3.4%.

The spokesperson added: “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.”

Evri, which is owned by the private equity group, is also beginning the process of exploring a sale, according to a Reuters report last week.