As part of efforts to generate income and cut costs, the Royal Mail's confirmed it's to sell the rubber band breeding farm it runs in Suffolk.
It was founded in 1926 to supply the then GPO with a constant supply of quality red bands to go around bundles of letters.
But since 1957, when 10 breeding pairs were stolen and a rival farm set up in Herefordshire, the Government's competition rules have mean the bands can only be bought through a blind auction.
This has meant that in the last 10 years, the Royal Mail farm has supplied it's parent company with stock of red rubber bands just once.
"Unfortunately, maintaining the farm has become uneconomical for us to keep in-house. We have therefore decided to offer it for sale on the open market, which would allow us to buy from whichever farm proves to offer us the best value." spokesman Damien Sutcliffe explained.
But fans of the red bands are up in arms.
"This is another attack on the glorious history of a once-great organisation." Suzanna Doyle, chair of the Royal Mail Heritage Society told reporters. "Not only is the erosion of the link between the Royal Mail and it's remaining rural enterprise, but it also neglects the expertise of the breeders employed at the farm. Unless a management buyout can be organised, their skills in sexing the bands and encouraging them to breed in captivity will be lost forever."