After over two centuries of trading, WH Smith is in the process of discussing a potential sale of its high street operations in the UK. The company, which is valued at nearly £1.5 billion, has been quietly negotiating with prospective buyers for several weeks.

These talks focus solely on the high street stores, excluding the company’s travel outlets located in train stations, airports, and hospitals.

Impact on WH Smith’s UK Stores

WH Smith, known for selling books, stationary, and housing many UK post offices, currently operates around 500 stores across Britain and employs around 5,000 people.

While its high street division remains profitable, with a £32 million profit last year, the company’s travel business now dominates, generating 75% of the company’s total revenue and 85% of its profits.

This shift toward the travel sector has made the high street division a less vital part of the business.

The History and Future of WH Smith

Founded in 1792, WH Smith opened its first store on Little Grosvenor Street in London, marking the beginning of what would become one of the UK’s most recognized retailers.

It expanded rapidly, eventually opening its first travel store in Euston Station in 1848.

However, after a series of store closures and poor customer satisfaction ratings in recent years, the company has decided to explore selling its high street stores.

This marks a significant shift for the brand, which had long been a fixture of British shopping.

Store Closures and Performance Decline

The company has also announced that it will close 17 stores this year in various locations, including Bournemouth, Luton, and Basingstoke, among others.

WH Smith faced repeated criticism from consumers, being ranked as one of the worst high street retailers in a poll conducted by consumer watchdog Which? for nearly a decade.

Recently, the company’s stock price has also faced a dip, falling by approximately 5% over the past year.

This ongoing development is still unfolding, and more updates are expected as the sale talks progress.

This article was published on TDPel Media. Thanks for reading!

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