WH Smith puts UK high street stores up for sale creating uncertainty for workers
WH Smith puts UK high street stores up for sale creating uncertainty for workers
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Surprise move frees up parent company of 232-year-old chain to focus on successful travel arm. The WH Smith name could disappear from the high street after its owner hoisted the ‘for sale’ sign over its legacy retail business, in a surprise move that creates uncertainty for its 5,000 staff.
This weekend, the eponymous parent company, which is listed on the stock market, confirmed it is seeking a buyer for its 500 high street stores, in a shake-up that would free it up to focus on its more successful travel arm, which has branches in airports all over the world.
The 232-year-old chain is in talks with a handful of potential bidders, having kicked off the prospective sale process at the end of last year. While negotiations are focused on its 500 UK high street shops – which sell newspapers, books, stationery, cards and gifts – it is understood that the use of the brand itself will be up for negotiation with any prospective buyer.
It could result in the WH Smith brand disappearing from high streets and town centres, while potentially living on across its global travel retail business, which has outlets in train stations, airports and hospitals in 32 countries. The financial success of its approaching 1,300 travel stores has made them the focus of a potentially slimmed down business, having generated three-quarters of the group’s revenue of about £1.9bn in the year to 31 August 2024.
