Parcel delivery firm Yodel, which operates a sorting depot in Hatfield, has been saved from collapse in a last-minute rescue deal.

Reports late last week claimed the company, which employs around 10,000 people, was in discussions with "interested parties", and that it was at risk of entering administration if a buyer was not found.

Yodel's Hatfield depot in Frobisher Way was among the firm's 50 sites at risk, but YDLGP, a newly-formed company backed by investment bank Solano Partners and the team behind logistics firm Shift, has stepped in to save the business.

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In a statement to Sky News, Mike Hancox, CEO of Yodel, said: "We're extremely excited to begin the next chapter of Yodel's journey, leveraging the scale of our business with the support of new shareholders and the future benefits of the Shift technology platform.

"Our customers have always been our priority and the transaction announced today allows us to ensure continuity for them, as well as our employees and wider stakeholders."

The firm was owned by the Barclay family and one of its largest clients is online retailer Very, is also owned by the Barclays.