Yodel 'exploring options' amid speculation over future
Yodel, a company that delivers packages, has expressed its intention to "investigate possibilities" as rumors surrounding its future continue to circulate.
According to the rumors, the organization is considering bringing in administrators as they were unsuccessful in finding a purchaser.
Yodel has a workforce of 10,000 people and is responsible for transporting products for various stores, including John Lewis, Argos, and AO World.
The delivery company belongs to the Barclay family and is currently serving one of its largest customers, an online store called Very. Interestingly, Very is also under the ownership of the Barclay family.
Sky revealed on Wednesday that the Barclay family is in a hurry to find a purchaser for Yodel, and The Delivery Group is among those being considered.
The BBC has requested a statement from Barclays for their feedback.
After the report was released, Yodel stated that they are presently examining different avenues for strategic development due to several inquiries they received.
Yodel has stated that they will prioritize the welfare of their clients, coworkers, and important stakeholders when making decisions. The executive team has expressed their unwavering dedication to the long-term expansion of the company.
According to sources, the company Teneo, which specializes in insolvency, has been selected to manage the administration process in the event that the business goes bust. The BBC has attempted to contact Teneo for a statement.
Yodel is a major delivery firm operating in the United Kingdom.
The organization reported that it successfully transported a total of 191 million packages in the previous year and boasted a revenue increase of 3.4%.
Nevertheless, in the previous year Citizens Advice evaluated Yodel to be among the two poorest-performing courier companies among the top five in the United Kingdom. Accompanied by Evri, Yodel obtained a total score of two out of five.
The financial status of the Barclay household has been in the spotlight since Lloyds Banking Group put up for sale the Telegraph and the Spectator magazine last year.
The Barclays had their titles taken by the bank in order for the bank to reclaim £1.1bn that they were owed.
The family settled their debt by utilizing finances from the United Arab Emirates, conclusively bringing the auction of the Telegraph to an end.
The intricacy of the agreement has caused the administration to initiate an investigation into the transaction.
