Royal Mail Bosses Threaten To Declare Insolvency As Pay Talks Near Collapse

28th March 2023

This heading appeared in yesterdays Guardian newspaper.

Talks with union over pay and working practices are on brink of collapse and special administration has been explored,

Royal Mail is on course to make operating losses of £350m-£400m this year, its parent company has said.

Long-running talks between Royal Mail and the Communication Workers Union are on the brink of collapse, with the company's board thought to have threatened to put the loss-making postal service - the regulated UK entity that delivers to every address in the country - into a form of administration if a deal cannot be agreed.

A politically explosive move to declare the postal service insolvent is regarded by Royal Mail's board as a last resort but has been raised with the union already.

Royal Mail (est. 1516) but has been renamed International Distributions Services plc. - What a disaster this privatisation has been for the public.

Read the sorry tale HERE