Cost of compensating falsely accused postmasters would have put Post Office out ...
Post Office is worth ZERO after the Horizon IT scandal: Cost of compensating thousands of innocent postmasters falsely accused of stealing would have put company out of business if Treasury hadn't bailed it out The Post Office's value has been written down to zero after Horizon IT scandal Compensating falsely accused postmasters would have put it out of business Postmasters were wrongly accused after Horizon software scrambled accounts The bill for legal fees and compensation is already expected to hit £265million The HM Treasury has bailed out the 400-year-old company after the scandal
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The value of the Post Office and its 11,500 branches has been written down to zero by the Government following the Horizon IT scandal.
The cost of compensating thousands of innocent postmasters, falsely accused of stealing after its new Horizon software scrambled accounts, would have put the 400-year-old company out of business had the Treasury not bailed it out.
The bill for legal fees and compensation is already expected to hit £265million – and some legal experts say this will rise.
