WHSmith takeover deal could see brand disappear from high streets
WHSmith could disappear from UK high streets as the retailer explores the sale of 500 of its stores.
The Sunday Times reports that a potential sale could see WHSmith relinquish the rights to its brand name.
This comes as WHSmith – which has traded on British high streets since 1792 – looks to shift its focus towards its more profitable travel retail arm.
The retailer confirmed in January that it is currently exploring strategic options for its high street division, including a sale, however it is now understood that the WHSmith brand may not be included in any deal.
Potential buyers for the retailer’s high street division include Doug Putman, the Canadian businessman who owns HMV, Bensons for Beds owner Alteri, and Modella Capital, which owns Hobbycraft.
WHSmith’s high street business recorded an operating profit of £32m last year and still largely sells greeting cards, books, and stationery. In comparison, the travel division – which has a wider offering of food and drink and technology products – now accounts for 85% of the group’s profits.