The already troubled InPost-Yodel takeover faces yet another dramatic setback as a High Court judge has imposed sweeping restrictions preventing any integration of the two companies, following claims from tech entrepreneur Jacob Corlett that he actually owns the majority of the business.
This latest twist piles on even more drama to the recent chaos at Yodel, and leaves many wondering how the firm will survive in this state of complete limbo for much longer.
Court Order Halts All Major Changes at Yodel
The £106 million acquisition, which would have created the UK’s third-largest delivery company behind only Royal Mail and Evri, has effectively been put on ice after Corlett – the founder and CEO of tech-based delivery firm Shift – successfully applied for an injunction.
The court order imposes strict limitations on Yodel, preventing the company from:
- Making any changes to its share capital or board of directors
- Taking on new debt or creating security encumbrances
- Disposing of assets worth more than £25,000
- Entering commitments lasting more than six months
- Terminating employees (except for gross misconduct)
- Transferring customer contracts to other entities
- Making material alterations to the Yodel brand
These restrictions will remain in place until the dispute is resolved at a full hearing, potentially delaying the merger for months.
The 66% Ownership Claim That Could Derail Everything
At the heart of the dispute is Corlett’s claim that he and other warrant holders collectively own rights to over 66% of Yodel’s share capital – a stake that would give them controlling interest in the company.
Corlett asserts that he formally notified InPost of these warrants before the acquisition was announced on April 17th, but the Polish parcel locker giant proceeded with the deal anyway.
“Whilst deeply frustrating that InPost announced an acquisition without clear ownership agreed, I’m pleased interim court protections are now in place,” Corlett said. “We’re confident the courts will uphold our rights.”
Contradictory Statements as Both Sides Claim Control
The legal battle has sparked contradictory statements from both sides, with InPost insisting the acquisition is still proceeding despite the court order.
An InPost spokesperson called Corlett’s claims “grossly misleading” and suggested the statement was “designed to cause market uncertainty around Yodel’s business and exert improper pressure on Yodel and InPost for an unwarranted financial settlement.”
Meanwhile, InPost described the undertakings as “voluntary” and claimed they “do not prevent Yodel from taking planned steps to transform its business.”
However, the extensive list of restrictions imposed by the court suggests that any meaningful integration or restructuring will be impossible until ownership is clearly established.
What the Chaos at Yodel Means for UK’s Parcel Market
This development throws significant uncertainty into the UK delivery landscape, which has already seen major changes with the Evri-DHL merger announced last week.
The InPost-Yodel deal was meant to combine InPost’s 13,000 out-of-home delivery points with Yodel’s extensive home delivery network, creating a formidable competitor to both Royal Mail and the newly formed Evri Group.
For retailers who use Yodel’s services – including major names like Argos, George at Asda, and numerous online fashion brands – the uncertainty raises questions about potential service disruptions if the dispute drags on.
This comes at a particularly difficult time for Yodel, which was reportedly losing around £1 million per week before InPost stepped in with a deal that now hangs in the balance.
A Long Legal Road Ahead
The injunction is just the latest chapter in what has become an increasingly bitter legal battle between Corlett and Yodel’s current management.
Corlett led an aborted rescue deal for Yodel last year, and the relationship between the parties has deteriorated into a series of legal claims and counterclaims about who is ultimately responsible for that deal falling through.
With the court order now in place until a full hearing can determine the validity of Corlett’s ownership claims, the UK delivery sector faces continued uncertainty at a time when it’s already undergoing its biggest shake-up in decades.
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