The company that supplies a vast range of UK food, drink and travel goods said it will close down by the end of the year after Brexit.
The Royal Mail said it was in discussions with its customers about how it could close its UK business, after a report suggested the company could be the last British business to export to Europe after the UK leaves the EU.
Royal Mail is a subsidiary of Royal Mail Group Plc, which is a unit of British Post Holdings Ltd.
According to the report, Royal Mail’s market value was £12.9 billion, which was more than a 10 per cent increase on the previous year.
However, in the past, Royal Postal has said that it will “continue to deliver to UK customers”.
The report said Royal Mail was “not in a position to close” the business before 2019 because the company would have to raise money to continue. “
Our members are concerned about the future of their delivery and our delivery service and we hope they can understand that.”
The report said Royal Mail was “not in a position to close” the business before 2019 because the company would have to raise money to continue.
In a statement, Royal Post said it is “considering options to ensure our business can remain in the UK”.
It added: “Royal Mail has always operated in a competitive market, and we are looking to develop new markets around the world.
We remain committed to providing our customers with high-quality products at competitive prices and are investing in technology that will ensure our delivery system remains the most reliable and secure in the world.”
Read more about the Royal Mail news