WH Smith Plans Sale, Brand to Disappear from High Streets

WH Smith is poised to exit the British high street after over 230 years, planning to sell its struggling retail chain without retaining rights to its iconic brand name. The company aims to focus on its more lucrative travel sector, which generates 85% of its profits, as it has seen high street sales decline significantly. Potential buyers, including investment firms Alteri and Modella Capital, have expressed interest in acquiring the 500 high street stores, which have an average lease length of just two years, increasing the likelihood of store closures. The sale process, managed by Greenhill investment bank, has raised concerns about the future of many stores, especially those housing post offices. WH Smith's high street business reported a trading profit of £32 million on sales of £452 million in the past year, but like-for-like sales fell by 3% in recent months. The transformation reflects broader challenges faced by traditional retailers amid rising online shopping and changing consumer habits.