UK private equity firm LDC has cited “declining postal volumes and ongoing regulatory uncertainties” for reversing a decision to invest in delivery service Whistl, which is consulting 2,000 workers about redundancy.

LDC formed a joint venture with postal service PostNL to expand the services of its UK delivery company Whistl - formerly TNT Post - in December 2013. However, on Monday Whistl said LDC had withdrawn its intention to invest, sparking the reports of potentially thousands of job cuts.