At least half of WH Smith high street stores could close under a new owner Experts say potential buyer would want only about 250 of those outlets, raising prospect of significant job losses.
At least half of WH Smith’s 500 high street stores could be closed by any new owner, industry experts say, raising the prospect of sweeping job losses at the ailing retailer.
With the average lease length less than two years, some property experts said there was “an opportunity to shrink” WH Smith and reduce the portfolio to a “hardcore” of stores, with the 200 outlets containing big post offices most likely to be retained.
However, one experienced retail boss said any buyer was likely to want at most half the stores: “I can’t see anybody who would want to run 500 locations of anything on the high street.
While WH Smith has said it would not necessarily sell if no strong offer emerges, De Mello said that, having taken the PR flak on the deal, the company was unlikely to back out.
