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WH Smith on track to complete sale of UK high street chain within weeks

WH Smith agreed a deal in March to sell its UK high street chain to Modella Capital for £76 million, affecting about 480 stores and 5,000 staff.
The sale follows years of declining sales and profits in the high street division while WH Smith's travel business, including airport and railway station shops, has grown significantly.
Modella Capital, which has previously invested in retailers like Paperchase and Hobbycraft, will rebrand the high street stores under TGJones as part of the transfer of ownership.
WH Smith reported a 5% increase in like-for-like sales for its travel division in the quarter to May 31, despite a 25% profit slump to £20 million in the high street chain during the half year.
This deal signals WH Smith's strategic focus on its expanding travel business while Modella Capital prepares to navigate economic and geopolitical uncertainties in the retail sector.

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Daily Express

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theboltonnews.co.uk

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This Is Money

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WH Smith to exit UK high street within weeks as it focuses on travel

The deal, which was agreed in March and values the high street retailer at £76million, will see the WH Smith name disappear from British high streets and be replaced by brand TGJones.

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