Beloved brand ‘in talks to sell all 500 high street stores’ for £1,500,000,000
Beloved brand ‘in talks to sell all 500 high street stores’ for £1,500,000,000
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WHSmith, the high street favourite that’s sold magazines, stationary and puzzle books for decades, is set to close hundreds of stores. The brand, which opened its first branch some 233 years ago, is in ‘secret talks’ to sell 500 high street stores that employ some 5,000 people.
![[LONDON, UNITED KINGDOM - 2020/08/06: WHSmith store seen closed. High street Retailer WHSmith is looking to cut up to 1,500 jobs, it said its recovery from the COVID-19 lockdown remained slow. WHSmith is starting to consult with staff over cost-cutting plans after its revenue was down by 57% in July compared with the same month last year, even after its shops started to welcome customers back. (Photo by Dave Rushen/SOPA Images/LightRocket via Getty Images)]](https://metro.co.uk/wp-content/uploads/2024/11/SEI_229051727-4469.jpg?quality=90&strip=all&w=646)
This would all but bring an end to its entire high street business, SkyNews reported, as the retailer focuses more as a go-to for travel essentials. WHSmith, officially known as WH Smith, has been in talks with buyers for weeks, the broadcaster said. Bosses would confirm their intention to sell to the London Stock Exchange next week.
WHSmith has seen significant success in airports, train stations and hospitals – revenue rose 7% to £1,900,000,000 last year. Fourteen travel sites were opened in 2024, with up to eight expected in the months ahead. Chief executive Carl Cowling said in an annual report to shareholders in November that WHSmith is in its ‘strongest ever position as a global travel retailer’.
‘We continue to make excellent progress in this division, growing our space and broadening our categories as we transition to a one-stop-shop for travel essentials,’ he added. WHSmith is also hoping to expand its travel shops across North America, with 60 new stores in the works. Another 15 in major US airports are up for grabs.
