WH Smith Could Sell High Street Stores

WH Smith is exploring a possible sale of its high street shops.

The stationery chain has around 500 stores across the UK including in Market Harborough and employs around 5,000 people.

WH Smith in Market Harborough

Any sale would not include the group’s travel stores – at airports and train stations – which are responsible for 85% of the group’s profits.

Sky News has learnt the owner of Hobbycraft is among the parties interest in the high street stores.

Modella Capital, whose executives have previously been involved in retailers including Paperchase and Tie Rack, is one of a handful of parties to have held discussions with WH Smith and its advisers.

WH Smith says it is ‘exploring potential strategic options for this profitable and cash generative part of the Group, including a possible sale’.

The retailer says it is business as usual at all of its shops and added: “There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”