Post Office chiefs reassure Peterborough customers on future of its city centre services

The move comes amid growing uncertainty about the wellbeing of general retailer TG Jones, which operates the former WH Smith store in Bridge Street, which also houses the Central Post Office.

Concerns are growing that TG Jones could be about to close 150 stores across the UK as part of a major restructuring of the business.

The retailer faces a major challenge from rising costs and has called on its landlords to cut rents on its shops.

A number of signs have gone up in the windows of its Bridge Street store stating that the price of products has been cut by up to 50 per cent.

If it opts to close its Bridge Street store the move would potentially leave the Post Office without a home.

A Post Office spokesperson said: “We fully recognise the challenging trading conditions that TG Jones and many other High Street retailers are facing at the moment.

"We have a long-standing partnership and encourage customers to continue to access Post Office services and products from our branches located within TG Jones stores.

"Should there be any change to the store that hosts the Post Office, we will inform the local community as soon as we’re able to.”

Modella Capital bought the WH Smith retail business in March last year for £76 million sale but under the conditions of the purchase was forced to change the name of the high street shops.

Modella also owns Claire’s Accessories and just last month effectively closed those stores, including one in the Queensgate Shopping Centre, by placing the business in administration.

It claimed ‘alarming’ low Christmas trading had left it in a ‘vulnerable’ position.