Supermarket giant Tesco and stationery chain Ryman are among several businesses in line for the takeover of some of the 108 Crown Post Office branches.

The Post Office said on Tuesday (8 April) that  is to offload the remaining 108 branches which it owns directly, and shift to a fully franchised network, reported BBC News.

About 1,000 Post Office staff members will be offered a choice to move or take voluntary redundancy.

It is understood the Post Office has received expressions of interest from potential retail partners, with rumoured current buyers including Ryman and Tesco, which are both understood to have thrown their hats into the ring.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

Ryman already operates seven Post Office branches, with an additional two branches set to be added this year.

The UK’s largest retailer, Tesco, was first reported to have an interest in acquiring some Crown Post Office branches in February this year.

The ownership of 200 Post Office branches was recently transferred after high street chain WHSmith was bought by private equity firm Modella Capital in a £76m deal.