After weeks of negotiations proposed plans will no longer go ahead
The proposed takeover of Ramsey Post Office by Ramsey Courthouse Ltd has collapsed.
RCL had submitted a bid to run the post office with a business plan based on the John Lewis model in which the workers are also shareholders in the business.
In April IOM Post Office agreed in principle to appoint RCL to run Ramsey Post Office subject to the agreement of all relevant terms and the signing of the draft contract provided.
But it's now been confirmed that after weeks of negotiations the sides have been unable to achieve this and the proposed plan will no longer go ahead.
Chairman of Isle of Man Post Office Graham Cregeen says its disappointing as both sides had tried hard to make it work.
Mr Cregeen says for now services will continue as they are in the town:
The Post Office plans for Ramsey and Douglas, originally set out last December, were designed to save £360,000 for both offices.