You can see which WHSmith branches near you will be rebranded by using our interactive map below after the retailer confirmed a £76million deal to sell its high street estate
One of Britain’s best-known retail brands is to disappear from the high street as hundreds of WHSmith branches are given a new name. The owner of nearly 500 WHSmith stores has agreed to sell the UK chain to Hobbycraft owner Modella Capital in a £76million deal.
The sale does not include the retailer’s travel locations, such as shops in airports and train stations. 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. The stores – not including the travel locations – are set to rebrand as TGJones, the company revealed.
You can see which WHSmith branches near you will be rebranded by using our interactive map. The high street branches in orange are all expected to be renamed TGJones. Other hospital and rail station branches in blue will remain as WHSmith outlets.
Carl Cowling, Group Chief Executive, 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. We have a highly successful travel business, operating in fast growing markets in 32 countries and we are constantly innovating to deliver strong returns and meet our customers’ and partners’ needs.
“Our travel business currently accounts for around 75% of the group’s revenue and 85% of its trading profit. With the ongoing strength in our UK travel division, and the scale of the growth opportunities in both North America and the rest of the world, we are in our strongest ever position to deliver enhanced growth as we move forward as a pure play travel retailer.
“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. As we look forward as a simplified, travel-focused group, I am excited about the Group’s future prospects. With a clear strategy, a strong balance sheet, and operations in high growth and attractive markets, we are well-positioned to generate substantial growth and value for all stakeholders.”
