Post Office confirms 115 branches at risk of closing in major shake-up – see the full list
MORE than 100 Post Office branches and some 1,000 jobs are at risk under a sweeping overhaul.
The Post Office revealed it is looking to offload 115 directly-owned branches within its 11,500 network, which could see them transferred to retail partners or postmasters, or potentially closed.
Around 1,000 workers are employed across the branches, while the Post Office also confirmed that hundreds of further roles are under threat at its headquarters as it looks to streamline back-office operations.
The announcement was made by Post Office chairman Nigel Railton during a meeting at 9am who said the shake-up will also offer a "new deal for postmasters" by increasing their share of revenue and giving them a greater say in the running of the business.
The move is part of the Post Office's strategy to transition to a fully franchised model.
Franchising is a business model where a company (the franchisor) grants permission to an individual or group (the franchisee) to operate a business using its brand, products, and processes in exchange for a fee.
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Approximately 99% of Post Office branches are now operated by franchisees, with only 1% of sites being directly managed.
The Post Office has stated that it does not plan to reduce its approximately 8,500 branches, which independent postmasters and local businesses operate.
Additionally, there are 2,000 Post Offices managed by retailers, such as WHSmith and the Co-op, which will remain unaffected.
The full list of branches at risk of closure include:
- Antrim
- Bangor
- Belfast City
- Edinburgh City
- Glasgow
- Haddington
- Inverness
- Kirkwall
- Londonderry
- Newtownards
- Saltcoats
- Springburn Way
- Stornoway
- Wester Hailes
- Barnes Green
- Bransholme
- Bridlington
- Chester Le Street
- Crossgates
- Eccles
- Furness House
- Grimsby
- Hyde
- Kendal
- Manchester
- Morecambe
- Morley
- Poulton Le Fylde
- Prestwich
- Rotherham
- Salford City
- Sheffield City
- South Shields
- St Johns
- Sunderland City
- The Markets
- Birmingham
- Breck Road
- Caernarfon
- Didsbury Village
- Harlesden
- Kettering
- Kingsbury
- Leigh
- Leighton Buzzard
- Matlock
- Milton Keynes
- Northolt
- Old Swan
- Oswestry
- Oxford
- Redditch
- Southall
- St Peters Street
- Stamford
- Stockport
- Wealdstone
- Barnet
- Cambridge City
- Canning Town
- Cricklewood
- Dereham
- Golders Green
- Hampstead
- Harold Hill
- Kilburn
- Kingsland High Street
- Lower Edmonton
- Roman Road
- South Ockendon
- Stamford Hill
- Bideford
- Dunraven Place
- Gloucester
- Liskeard
- Merthyr Tydfil
- Mutley
- Nailsea
- Newquay
- Paignton
- Port Talbot
- Stroud
- Teignmouth
- Yate Sodbury
- Baker Street
- Bexhill On Sea
- Cosham
- Great Portland Street
- Croydon High Street (10)
- Kensington
- Knightsbridge
- Melville Road
- Paddington Quay
- Portsmouth
- Raynes Park
- Romsey
- Westbourne
- Windsor
- Worlds End
- Aldwych
- Brixton
- Broadway
- City of London
- Clapham Common
- East Dulwich
- Eccleston Street
- High Holborn
- Houndsditch
- Islington
- Kennington Park
- London Bridge
- Lupus Street
- Mount Pleasant
- Vauxhall Bridge Road
Mr Railton said: "The Post Office has a 360-year history of public service and today we want to secure that service for the future by learning from past mistakes and moving forward for the benefit of all postmasters.
"We can, and will, restore pride in working for a business with a legacy of service, rather than one of scandal.”
He added the overhaul also "begins a new phase of partnership during which we will strengthen the postmaster voice in the day-to-day running and operations of the business, so they are represented from the frontline to the boardroom".
The number of Post Offices in operation across the UK has significantly declined since the 1960s, when there were approximately 25,000 branches.
This decline is partly due to more people receiving benefits and pensions directly into their bank accounts, reducing their need for the Post Office's services.
Post Offices were once the sole providers of postage stamps, but now stamps can be purchased from supermarkets and petrol stations.
Over the past decade, the number of branches has stabilised at around 11,500.
Despite these changes, the 364-year-old institution remains wholly owned by the state and continues to be Britain's largest retail network.
TROUBLED TIMES
It comes after it was revealed that government ministers are exploring plans to transfer ownership to employees, similar to the model used by the John Lewis Partnership.
It is based on the idea that its workers are each part-owners of the company and receive a share of annual profits.
Whitehall insiders admitted that the Post Office is in a lot of trouble and is only financially viable because of an annual subsidy it receives from the government.
Calls for a review of the company's ownership model have grown amid rising public anger at the wrongful conviction of hundreds of sub-postmasters.
Highlighted by the ITV drama Mr Bates vs The Post Office, it has been labelled Britain's biggest miscarriage of justice after they were accused of stealing cash from their branches.
Many had their lives destroyed, were imprisoned, and some even passed away or committed suicide before finally being exonerated.
Former sub-postmaster Sir Alan Bates, who tirelessly campaigned for justice, is still waiting to agree on a compensation settlement and has called on the government to consider suing former directors of the company.
At the same time, customers have been hit with continually rising stamp prices.
The price of first-class stamps rose by 30p to £1.65 in October - the second rise in a year.
It comes after first class stamp prices increased by 10p to £1.35 in April and by 10p to 85p for second class.
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The company has frozen the cost of second class stamps at 85p until 2029 in a bid to keep the sending of letters affordable.
Royal Mail says it has tried to keep price increases as low as possible in the face of declining letter volumes, and inflationary pressures.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre's director, Professor Joshua Bamfield, said the improvement is "less bad" than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
"The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend," Prof Bamfield said.
"Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult."
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023's biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.