Yodel, a major parcel delivery group in Britain serving clients like Argos, has been spared from collapse through an overnight rescue orchestrated by a privately funded consortium led by Shift, a rival operator in the industry.
Sky News reported that YDLGP, a newly formed company backed by Shift executives and Solano Partners, a merchant bank, finalised a deal early on Tuesday morning to acquire Yodel. The agreement, reached on a solvent basis and without the need for Yodel to bring in administrators, marks a crucial step in averting the company’s potential downfall, as insiders had indicated in recent days.
The announcement of the acquisition is anticipated to safeguard numerous jobs and ensure the continuity of Yodel’s parcel delivery operations. Yodel currently serves clients such as Gousto, Argos, Vinted, and Very Group, which is owned by the Barclay family – the same family that owns Yodel.
Last week, Barclays’ endeavours to expedite the search for a buyer for Yodel was disclosed, as uncertainties regarding the company’s future loomed. The impending sale is poised to provide stability to Yodel’s business and reassure its customer base amidst apprehensions about its ongoing viability.
