Home Money WH Smith ‘to sell ALL of its High Street stores’ in massive deal 233 years after opening flagship store

WH Smith ‘to sell ALL of its High Street stores’ in massive deal 233 years after opening flagship store

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WH Smith, which sells stationery and books and is home to many UK post offices, has around 500 stores in Britain and employs 5,000 people nationwide.

WH Smith is in talks to sell its entire business in Britain after 233 years.

The retailer, said to have a total market value of almost £1.5bn, has been in secret talks with potential buyers for weeks, Sky News information.

WH Smith, which sells stationery and books and is home to many UK post offices, has around 500 stores in Britain and employs 5,000 people nationwide.

The conversations relate only to high street stores and not to stores that are part of the company’s travel sector (those in train stations and airports) or those in hospitals.

These are around 600 secure stores in the UK, out of a total of 1,200 travel stores worldwide.

Although the store has typically performed poorly on customer service measures, its high street division still made a £32m profit last year.

But in contrast, the travel division now generates 75 percent of the brand’s revenue and 85 percent of its profits.

Chief executive Carl Cowling is understood to be seeking buyers for the high street brand at a historic time for British shopping, although the identity of the buyers has not been revealed.

WH Smith, which sells stationery and books and is home to many UK post offices, has around 500 stores in Britain and employs 5,000 people nationwide.

WHSmiths are usually found on main streets, as well as at stations and airports.

WHSmiths are usually found on main streets, as well as at stations and airports.

Established in 1792, the first WHSmith store was opened by Henry Walton Smith and his wife Anna.

Established in 1792, the first WHSmith store was opened by Henry Walton Smith and his wife Anna.

WH Smith opened his first shop in Little Grosvenor Street, London, in 1792.

The store was run by Henry Walton Smith and his wife Anna, and quickly expanded to other locations.

By 1848, the brand had opened its first travel shop at Euston station, two years after it was handed over to the couple’s sons, William Henry Smith and Henry Edward Smith.

By 1860, the young WH Smith had taken full control and finally moved into politics, becoming an MP in 1868 and eventually First Lord of the Admiralty in 1877 and First Lord of the Treasury in 1887.

Following his death at the age of 66 in 1891, his wife was created Viscountess Hambleden and his eldest son, William Frederick, who became 2nd Viscount Hambleden in 1913, took over the business.

Now based in Wiltshire, the brand has stores in 28 countries around the world.

It comes after it was announced this week that 17 stores will close this year.

Those affected are in Bournemouth (two stores), Luton, March, Basingstoke, Newtown, Rhyl, Bolton, Accrington, Halstead, Halesowen, Diss, Newport (Wales), Haverhill, Stockton, Oldham and Orpington.

The retailer announced the closure of 17 stores across the UK this week.

The retailer announced the closure of 17 stores across the UK this week.

WHSmith opened his first travel shop at London's Euston Station in 1848.

WHSmith opened his first travel shop at London’s Euston Station in 1848.

A WHSmith delivery van is seen in 1899, more than a century after the first store opened.

A WHSmith delivery van is seen in 1899, more than a century after the first store opened.

WHSmith was once a much-loved part of every British high street

WHSmith was once a much-loved part of every British high street

In the last two years, WH Smith has closed 10 plants, including sites in Manchester, Crewe, Ramsgate, Bicester, Somerset and Sale.

The retailer was voted Britain’s worst or second-worst retailer for nine years running between 2011 and 2019, in a survey by consumer watchdog Which?.

Customers were exacerbated by the chain’s deteriorating state, with its seemingly random stock, threadbare carpets and untidy presentation.

On Friday, WH Smith shares closed at 1,148 pence, about 5 per cent lower than last year.

A WH Smith spokesperson said: ‘WHSmith confirms that it is exploring possible strategic options for this profitable and cash-generating part of the Group, including a possible sale.

‘Over the last decade, WHSmith has become a focused global travel retailer.

‘The group’s travel business has more than 1,200 stores in 32 countries, and three-quarters of the group’s revenue and 85 percent of its trading profits come from the travel business.

“There can be no certainty that any agreement will be reached, and further updates will be provided when appropriate.”

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