WH Smith high street arm sold to Hobbycraft owner in £76m deal
- WH Smith's UK high street business has been sold to Modella Capital for £76 million, ending 233 years of the WH Smith brand on the high street.
- Modella Capital, owner of Hobbycraft, will rebrand the acquired stores as TG Jones after purchasing approximately 480 locations and transferring around 5,000 employees.
- WH Smith's travel retail business, which operates in airports and train stations, is not included in the sale and remains the group's focus, contributing 85% of profits.
- CEO Carl Cowling stated that this sale allows WH Smith to concentrate exclusively on growing its travel business, which is a much larger portion of their profit.
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Shoppers all say same thing as WHSmith set to vanish from the High Street - Liverpool Echo
Hundreds of WHSmith stores will be sold in a £76million deal, with the high street brand set to disappear after 233 years from town centres - and fans are all saying the same thing about the stores
WHSmith's rise and fall from high street icon to price fury and hospital shame - The Mirror
Henry Walton Smith opened the first shop - a newsagents week 230 years ago and this week announced the WHSmith name is disappearing from the High Street forever joining other axed brands Mothercare, Woolworths and C&A
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