WHSmith ‘in talks to sell all 500 high street stores’

It’s yet another blow to the troubled British high street (Picture: Getty Images)

WHSmith, the high street favourite that’s sold magazines, stationary and puzzle books for decades, is set to close hundreds of stores.

The brand, which opened its first branch some 233 years ago, is in ‘secret talks’ to sell 500 high street stores that employ some 5,000 people.

This would all but bring an end to its entire high street business, SkyNews reported, as the retailer focuses more as a go-to for travel essentials.

WHSmith, officially known as WH Smith, has been in talks with buyers for weeks, the broadcaster said.

Bosses would confirm their intention to sell to the London Stock Exchange next week.

WHSmith has seen significant success in airports, train stations and hospitals – revenue rose 7% to £1,900,000,000 last year. Fourteen travel sites were opened in 2024, with up to eight expected in the months ahead.

The business’ profits have surged on travel growth in recent years (Picture: 2020 SOPA Images)

Chief executive Carl Cowling said in an annual report to shareholders in November that WHSmith is in its ‘strongest ever position as a global travel retailer’.

‘We continue to make excellent progress in this division, growing our space and broadening our categories as we transition to a one-stop-shop for travel essentials,’ he added.

WHSmith is also hoping to expand its travel shops across North America, with 60 new stores in the works. Another 15 in major US airports are up for grabs.

The retailer’s high street arm, however, has been anything but. Profits tumbled 9.3% to £39,000,000.

The market value of the WH Smith group globally is £1,500,000,000.

WH Smith said in a statement to Metro: WHSmith confirms that it is exploring potential strategic options for this profitable and cash-generative part of the Group, including a possible sale. 

‘Over the past decade, WHSmith has become a focused global travel retailer. The Group’s Travel business has over 1,200 stores across 32 countries, and three-quarters of the Group’s revenue and 85% of its trading profit comes from the Travel business. 

T’here can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.’

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