Yodel prepares to “call in administrators” as buyer sought, reports suggest

According to reports, Yodel is having difficulty in finding a buyer and has consequently appointed administrators to be on standby.

Last year, the firm responsible for delivering packages, which is affiliated with Barclays through the Logistics Group Holdings (LGH), delivered around 200 million parcels. Despite the heavy competition, they have found it challenging to maintain a consistent level of profitability.

The records of Companies House indicate that LGH has overdue accounts for more than a month.

The company has ten thousand employees who work hard to ensure a variety of products from popular stores like John Lewis, Argos, and AO World are delivered to their customers.

The Barclay family was looking for someone to buy Yodel urgently. The Delivery Group was one of the companies that might be interested, according to Sky.

According to the report, Yodel expressed that they are presently investigating different choices for strategic growth following various proposals.

The Yodel executive team has affirmed that they will make decisions that prioritize the well-being of their clients, colleagues, and important stakeholders. They're dedicated to ensuring that the business continues to prosper in the long-term.

According to sources, it has been rumored that Teneo, an expert in dealing with bankruptcy, has been chosen to handle the administration of the business.

Last week, Reuters reported that Evri, owned by a private equity group, is commencing the investigation into selling the company.