Alteri, Modella Capital Remain in WH Smith Sale Talks

WH Smith is in the process of selling its high street division, with only two bidders remaining: Alteri and Modella Capital. Both firms have experience in acquiring struggling retailers, while a third potential bidder, Doug Putman of HMV, has reportedly exited negotiations. The sale involves WH Smith's 500 UK high street stores, which employ around 5,000 people, as the retailer aims to concentrate on its more lucrative travel business that generates the majority of its revenue. Analysts predict that the new owners may close a significant number of high street locations post-acquisition. A definitive deal is anticipated to be announced alongside WH Smith's interim results in April, marking a significant shift for the historic retailer. WH Smith has operated since 1792, and the potential sale underscores the challenges faced by traditional high street brands.