According to Retail Week and other news sources WHSmith is in talks to sell its high street stores more over 200 years after it opened its first shop in London.
Known for its stationery, books, newspapers, magazines and, more recently, hosting ToysRus, the retailer confirmed on Saturday 25 January that it is “exploring potential strategic options” for its 500 high street stores, including a potential sale.
“Potential bidders are already emerging with Doug Putman, billionaire owner of HMV and Hobbycraft’s Modella Capital among them”
The company now operates more than 1,200 stores across airports, train stations, and hospitals in 32 countries. This travel retail arm now accounts for around three-quarters of the group’s revenue and 85% of its trading profit.
Potential bidders are already emerging with Doug Putman, billionaire owner of HMV and Hobbycraft’s Modella Capital among them.
Retail consultant Richard Hyman noted that the move to explore a sale of the high street business comes as little surprise, pointing out that many traditional high street retailers, such as Debenhams and Woolworths, have faced similar struggles in adapting to changing shopping habits.
While the business has not confirmed any deal or timeframe, sources say the company is in discussions with several potential buyers, and an agreement could be reached in the coming months.
However, WHSmith cautioned that “there can be no certainty that any agreement will be reached.”
