The businessman behind a failed rescue deal for parcel courier Yodel has been criticized for leaving behind a trail of debts worth millions of pounds.

Jacob Corlett has been accused by workers and suppliers of leaving them in charge of the collapse of one of his other delivery businesses, Shift Trading.

The company’s filings reveal that Shift Trading, which includes Mr Corlett as a director, collapsed in July last year with more than £8m owed to more than 100 creditors, including £2.2m to HMRC.

Others include smaller logistics businesses across the UK, some of which are over £130,000.

One supplier, who claims Shift owes him tens of thousands of pounds, said the missed payments have had a “devastating impact” on his business.

Creditors are understood to be particularly incensed after Shift held video calls with suppliers last year, promising to make payments in full.

At that point, the shift leaders complained Yodel the acquisition would free up cash and create more jobs, though that never materialized.

The Telegraph understands that a large group of creditors have now come together to explore ways to recover their cash.

The revelations increase pressure on Corlett amid growing questions about his failed takeover of Yodel, which collapsed in June 2024 after just five months.

The collapse of Shift Trading also raises questions about the Barclay familythe initial decision to sell Yodel to Mr Corlett for £1. The deal was completed just months before his Shift Trading business collapsed.

Corlett was a relative unknown at the time of the transaction but was hailed as a “white knight” for saving thousands of jobs at the Liverpool-based business.

He stepped in after Yodel was pushed to the brink of insolvency under Barclays, which sold the business in a cut-price deal after coming under pressure from its lenders at HSBC.

However, the deal quickly fell apart. Corlett resigned from Yodel’s board in June 2024 and sold his stake to CEO Mike Hancox.

The botched takeover has since sparked a bitter legal battle between Corlett and Yodel, with the businessman accused of siphoning millions of pounds out of the business under the cover of “bogus invoices”.

Yodel, which is now owned by Mr. Hancox, has also claimed that the businessman tried to evade taxes by funneling money to an offshore company that listed Mr. Corlett and his mother as directors.

Corlett has rejected the claims and instead accused Hancox of forcing him to sell his stake. He has filed a counterclaim alleging that Mr. Hancox rowed into a deal to deliver lucrative shares.

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