It has been stated that Yodel is putting its administrators on high alert as it is trying to sell.
Despite transporting more than 200 million products in the previous year, the package delivery company, a division of Barclay-controlled Logistics Group Holdings (LGH), found it difficult to make a profit due to the intense competition it encountered.
According to documents received from Companies House, LGH has been operating in a financial deficit for more than a month.
The company, which employs 10,000 people overall, is in charge of organizing the delivery of goods for organizations like Argos, AO World, and John Lewis.
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International news reports that the Barclay family made an effort to find a buyer as quickly as possible, and the Delivery Group was one of the potential bidders considering the opportunity.
Immediately following the completion of the study, Yodel made the announcement that it was “currently exploring strategic development options within a number of approaches.”
When it comes to making decisions, we will always put the needs of our clients, our business partners, and any other relevant stakeholders at the forefront of our minds. According to it, “The Yodel executive team remains fully committed to the long-term development of the company.”
It has been reported that Teneo, a company that provides insolvency advice, has prepared a strategy to seize control of the company in the event that it is placed under financial administration.
According to a report that Reuters published the previous week, the private equity firm that controls Evri is reportedly seriously considering selling the business.
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