US EditionWH Smith to pick buyer of 233 year-old high street chain
- WH Smith plans to sell its 500 high street stores to Modella Capital for £76 million, marking a significant shift in its business focus.
- The sale will transition around 480 high street stores and 5,000 employees to Modella Capital, resulting in the rebranding of the stores as TGJones.
- Carl Cowling, WH Smith's CEO, described the deal as a pivotal moment, emphasizing a strategic focus on travel retail worldwide.
- The decision reflects rising costs for UK retailers and allows WH Smith to concentrate on its profitable travel operations.
44 Articles
44 Articles
somersetcountygazette.co.uk
bridgwatermercury.co.ukAll Somerset WHSmith high street stores to be rebranded
WH SMITH has confirmed that all high street stores will be rebranded in the coming months - including outlets in Somerset.
WH Smith Exits UK High Street, Sells Stores to Modella Capital
The WH Smith brand will disappear from British high streets after more than two centuries, as the store network was bought by investment firm Modella Capital for an enterprise value of £76 million ($98 million).
Oxford Mail
WHSmith agree to sell high street chain with plans to rebrand as TGJones
Retailer WHSmith has agreed to sell its UK high street chain to Modella Capital and will rebrand as TGJones.
WHSmith update as fate of chain with 500 shops to be 'decided within days'
A MAJOR update has been issued on the sale of hundreds of WHSmith stores. The retail group will reportedly announce the fate of the 500 high street stores “as early as next week”. GettyWHSmith is set to sell on 500 of its stores[/caption] It is set to confirm that it has reached a deal with either Alteri Investors or Modella Capital, Sky News reports. Insiders told the publication the process was “too close to call” with both bidders understood …
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