The squabble over failing delivery firm Yodel’s ownership has erupted into all-out warfare as Jacob Corlett, the 31-year-old CEO of logistics firm Shift, launched a shock legal bid to block InPost’s £106m Yodel takeover – a deal that was only announced last week and appeared to finally settle the fate of the troubled British courier.
Shock Legal Bid to Block InPost’s £106m Yodel Takeover
Corlett is seeking a court injunction that, while not preventing the acquisition from proceeding entirely, could temporarily block InPost from making material changes to Yodel’s operations.
The young entrepreneur and his legal team claim the takeover amounts to a “stealth acquisition” that lacked sufficient transparency with both shareholders and regulators.
This dramatic eleventh-hour intervention comes just days after InPost announced it had successfully closed the deal, converting £106 million in loans to Yodel’s parent company into a 95.5% equity stake.
The Polish parcel locker giant had suggested the acquisition was a done deal, with PayPoint retaining the remaining 4.5% stake.
The Battle for Britain’s Most Troubled Courier
The legal challenge is the latest twist in an increasingly bitter dispute over who rightfully controls Yodel – a company that despite hemorrhaging around £1 million every week, remains a significant player in the UK delivery landscape with customers including Zara, Argos, AO, and eBay.
At the heart of the dispute is Corlett’s claim that he is part of a group of “warrant holders” who collectively believe they’re entitled to own up to 70% of Yodel’s shares.
If proven valid, this would render any sale to InPost potentially invalid without their consent.
Yodel has previously “utterly refuted” these claims, stating they have “no record of these warrants in its legal records” and insisting that Judge Logistics Limited – the entity that supposedly sold to InPost – was the 100% legitimate shareholder of the company.
A Failed Rescue and Accusations Flying
The saga began in early 2024 when Shift spearheaded a consortium aiming to rescue Yodel and merge the two businesses.
That deal dramatically collapsed, leading to Yodel being taken over by a group including distressed lender Independent Growth Finance, payments firm PayPoint, and CEO Mike Hancox.
What followed was an acrimonious High Court battle with serious allegations flying in both directions.
Yodel sued Shift and Corlett, accusing them of asset-stripping and misappropriating company funds – allegations Corlett strongly denies.
He is countersuing Yodel for £10 million in allegedly unpaid fees and claims he was coerced into selling his shares.
InPost has dismissed Corlett’s objections to their takeover, with a company spokesperson saying: “Naturally, we reviewed all of this ahead of the transaction.
We are entirely comfortable with the merits of Yodel’s position and see nothing here that could impact our plans to transform it into a profitable business.”
What This Means for Customers and Retailers
While executives and lawyers battle it out in the courts, the real losers could be the customers and retailers who rely on Yodel’s services.
The courier’s reputation was already in tatters, ranking at the bottom of customer satisfaction surveys alongside Evri.
In a recent Citizens Advice report, 43% of customers reported experiencing issues with Yodel – worse than even Evri’s 34%.
The company received just 2 out of 5 stars for overall service and a dismal 2.2 out of 5 for customer trust.
Any prolonged legal battle could further destabilize the already struggling operation, potentially leading to more delivery disasters for consumers who just want their parcels to arrive in one piece and on time.
What Happens Next in the Yodel Saga?
The outcome of Corlett’s injunction application could have significant implications for the UK delivery market – and for the thousands of staff and customers relying on the embattled courier.
If successful, the injunction would delay InPost’s integration plans and potentially complicate the company’s efforts to turn Yodel around.
This could leave Yodel in an even more precarious position than before, potentially threatening its long-term viability.
For InPost, which has been on a remarkable growth trajectory (doubling its UK deliveries to 93 million in 2024), this legal challenge represents an unexpected roadblock in its ambition to become a major player in the UK delivery market through a combination of its innovative parcel lockers and traditional doorstep deliveries.
What’s certain is that this courier drama is far from over, and we’ll be keeping a close eye on developments as they unfold. In the meantime, if you’re a retailer or consumer relying on Yodel for deliveries, it might be wise to have a backup plan – just in case.
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