Squeeze was the fifth and last studio album to be released under the Velvet Underground name. It was primarily written and recorded by singer-guitarist Doug Yule in a London recording studio, following the departures of Lou Reed and Sterling Morrison. Drummer Maureen Tucker, while still technically a member of the band at this time, was not involved in the recording, reportedly due to cost-cutting measures.
After the tour, band manager Steve Sesnick managed to get a recording deal with Polydor UK to record a final Velvet Underground album. Alexander, Powers and Tucker were sent back to the United States by Sesnick, however, presumably to retain maximum control over the finished product. Thus, Yule was the only Velvet to actually perform on the album. Although Squeeze was released nominally as a Velvet Underground album, it could justifiably be regarded as a Doug Yule solo album in all but name.
The eleven songs that make up Squeeze were written by Yule and recorded with the help of Deep Purple drummer Ian Paice, with additional occasional saxophone and backing singer assistance. They range from Beatles-like whimsy ("Crash") via pop to typical 70s rock ("Mean Old Man").
Squeeze was recorded in the autumn of 1972 and released in the United Kingdom, France, Germany (all 1973) and Spain (1974). No singles were taken off it and the album did not chart. Yule assembled a backing band consisting of Rob Norris (guitar), George Kay (bass guitar) and Mark Nauseef (drums) to tour the United Kingdom in November and December 1972 to promote the upcoming album; a live recording from this tour is included on the 2001 live box set Final V.U. 1971-1973. After the tour, during which they were deserted by Sesnick, Yule also called it quits, bringing the Velvet Underground to an end.
Squeeze saw a number of re-issues in France during the 1970s and early 1980s. It has been out of print since, and has not been issued on compact disc. The status of Squeeze in the Velvet Underground's recorded canon is generally regarded as dubious; the 1995 Velvets boxed set Peel Slowly and See includes the four studio albums from the Lou Reed era of the band, but excludes Squeeze. In the Peel Slowly and See liner notes, David Fricke dismisses Squeeze as "an embarrassment to the VU discography."