Lucy Hooker, a BBC Business reporter, has announced that the iconic UK High Street brand WH Smith is set to vanish from town centers as Modella Capital, the owner of Hobbycraft, has agreed to purchase its shops. Post Office outlets within many stores will remain, but the High Street chain will be rebranded as TGJones under the new ownership. The WH Smith name will continue to be used at locations such as airports, railway stations, and hospitals, which are not part of the sale.
With the acquisition, Modella Capital will gain control of 480 stores across retail parks, shopping centers, and High Streets, along with an estimated 5,000 employees. The new owner has assured that it will be “business as usual” during the transition, with plans to introduce new product ranges while maintaining existing features like Toys “R” Us concessions and the 195 Post Office counters within the stores.
WH Smith, which began operating in 1792, grew to become the leading newspaper distributor in the UK. Over the years, it expanded its offerings to cater to a wide customer base, from school supplies to stationery, books, and technology. Despite its established history, the chain has faced challenges in recent times from budget retailers and online competition.
The sale of the High Street stores marks a significant change for WH Smith, as the company shifts its focus exclusively to its travel-related division. With over 1,200 outlets in 32 countries worldwide, WH Smith’s travel arm has been identified as a key revenue driver for the group. Retail experts predict that the new ownership will prioritize cost efficiency and profitability in streamlining the High Street stores for improved performance. Despite the transition, there is optimism that the move could breathe new life into many High Streets and provide opportunities for growth in the retail sector
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