Canada Post, a venerable institution which has been delivering our mail since 100 years before confederation, is possibly facing the end of its viability to Canadians. New technologies, from the fax machine to email and video chats, have left the corporation dealing with its lowest ever volume of delivered letter mail.
According to Canada Post's audited 2016 report, letter mail volumes declined by 44 percent between 2006 and 2016. Other recent studies have suggested that sustaining Canada Post is impossible if the bulk of the company continues as a traditional carrier, delivering mail in the midst of collapsing letter volumes.
Experts agree that the corporation must find a way to re-invent its core services, at the same time as it continues to search for ways to partner with e-commerce companies on package deliveries.
Failure to find the right path to reform could see Canada Post follow other businesses such as Blockbuster Video and Sears to the corporate graveyard, due to their inability to reform their core business.
An experienced insolvency lawyer can help businesses determine the most appropriate reorganization process to be taken to manage outstanding debt and avoid outright bankruptcy.