WH Smith Post Office branches at risk in sell-off
WH Smith Post Office branches at risk in sell-off
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Hundreds of Post Office branches could be at risk after WH Smith confirmed plans to sell off its High Street stores. The retailer, which opened more than 230 years ago, has a partnership with the Post Office that offers services in nearly 200 of its shops. The two businesses have been working together since 2006.
But the future of these branches has been thrown into doubt after WH Smith said at the weekend it was in talks to sell its High Street stores and focus on shops in transport hubs like train stations and airports. The company's share price is also expected to be sharply in focus today as the High Street arm has long been considered to have been holding back its more lucrative travel shop operation.
A Post Office spokesman said yesterday: 'We are aware of reports regarding WH Smith and are in contact with them to understand more about their plans for their High Street stores. We will remain in contact with them after their update to the market.'. The Government-owned group added it would await a statement from the retailer to the market today for any clarity on the status of the partnership.
Concerns: WH Smith said it was in talks to sell its High Street stores and focus on shops in transport hubs like train stations and airports. WH Smith's decision is likely to fuel concerns about the state of the High Street after retailers warned a tax raid by the Chancellor in her October Budget would force them to close stores, raise prices and cut jobs.
