SingPost US units to file for Chapter 11 after sale bid falls through

Singapore

MAIL and logistics firm Singapore Post (SingPost) has called off the sale of its beleaguered US e-commerce businesses, which will now seek bankruptcy protection instead.

Following a six-month sale process, "no acceptable offers" were found for Jagged Peak and TradeGlobal, the company said in a Singapore Exchange filing on Thursday.

The group had received eight expressions of interest which resulted in two non-binding offers, the terms of which were "commercially unfeasible to Sing…