Mannin Retail was the Post Office's only option for relocation plans, it was revealed at yesterday's Public Accounts Committee of Tynwald.
As the only bidders, Post Office Chairman Graham Cregeen MHK conceded they had little option but to accept the offer.
The closure and relocation of the Douglas and Ramsey branches is set to save £300,000 next year.
Mr Cregeen insists they accepted the bid as Mannin Retail met all the desired criteria in their offer:
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Any potential disruptions to bus services 'will be communicated in a timely manner'
Unite the Union has confirmed Bus Vannin drivers have voted in favour of industrial action
Unite the Union confirms Bus Vannin drivers have voted for industrial action
It says it's been given a 'clear and decisive mandate'
Promenade parking to close this afternoon
It's due to high winds forecast
DOI committed to having conversations with bus drivers via union, says minister
Dr. Michelle Haywood says they've not been formally notified of ballot result or strike action