The battle to own one of Britain’s worst parcel companies

Core Viewpoint - The acquisition of Yodel by InPost for £106 million is currently hindered by legal disputes regarding ownership, primarily due to former owner Jacob Corlett's claims to retain control through contested share warrants [1][2]. Company Overview - Yodel, previously owned by the Barclay family, employs around 10,000 people and serves clients such as AO.com, New Look, and Zara [3]. - The company has faced significant challenges in a competitive delivery market, leading to its sale as part of a broader divestment by the Barclays [3][4]. Acquisition Details - InPost's acquisition of Yodel was announced as a strategic move to enhance growth and redefine delivery services in the UK [1]. - The deal was initially seen as a "bold leap forward" for InPost in the UK market [1]. Legal and Ownership Issues - The takeover is currently entangled in High Court litigation, with Corlett contesting the acquisition and asserting his ownership rights [2]. - Corlett's ownership of Yodel was short-lived, having acquired it for £1 amid a fire sale by the Barclays [4]. Allegations Against Corlett - Corlett is accused of misappropriating funds from Yodel, with allegations of "asset stripping" to benefit his other venture, Shift Group [7]. - Specific claims include £1.5 million paid to Shift Trading without legitimate purpose and £2.7 million linked to questionable invoices [7]. - Corlett also entered Yodel into a costly software licensing agreement with Shift, costing the company £18 million annually [8].