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WH Smith high street arm sold to Hobbycraft owner in £76m deal

  • The UK high street business of WH Smith was sold to Modella Capital for £76 million in cash, effectively rebranding the stores as TG Jones.
  • This sale ends a 233-year history of WH Smith on the high street, with about 480 stores and 5,000 employees transitioning to the new ownership.
  • WH Smith's high street stores only contribute 15% to the group's overall profit, highlighting their diminishing importance compared to the travel division.
  • WH Smith's group chief executive, Carl Cowling, stated the sale allows for a focus on the travel business, which has become the main profit driver.
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Retail Gazette broke the news in on Friday, March 28, 2025.
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