WH Smith name to disappear from the high street after £76,000,000 sale
One of the UK’s most recognisable high street names, WH Smith, is set to disappear from the high street after being sold for £76 million.
The stationery brand, which was found in 1792, has announced it is selling its shops to the owner of Hobbycraft, Modella Capital, and will eventually rebrand as TGJones.
The sale does not the retailer’s locations in airports and train stations. The brand has also not been sold to Modella Capital.
All the approximately 480 stores and 5,000 staff working for the high street businesses will move under Modella Capital’s ownership as part of the deal.
Group chief executive Carl Cowling said: ‘As we continue to deliver on our strategic ambition to become the leading global travel retailer, this is a pivotal moment for WHSmith as we become a business exclusively focused on travel.
‘As our travel business has grown, our UK high street business has become a much smaller part of the WHSmith Group.
‘High Street is a good business; it is profitable and cash generative with an experienced and high-performing management team.
‘However, given our rapid international growth, now is the right time for a new owner to take the high street business forward and for the WHSmith leadership team to focus exclusively on our travel business. I wish the High Street team every success.’
WH Smith has already closed 16 high street stores in the UK since 2024, and it has another 10 planned this year.
Last year was one of the worst ever recorded for the British high street, with over 13,000 store closures from big brands reported.
WH Smith’s high street revenues dropped 3% in the 21 weeks to January 25, compared to the same period the year before.
The rest of the business experienced growth in that time, with the travel retail business generating 85% of profits.
Around 200 of WH Smith’s high street stores also have post offices.
Many high street stores across the country at the moment are struggling, with others facing closure including 100 New Look stores, and a selection of Greggs, Trespass and Dobbies branches.
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