WH Smith to Vanish from High Streets as Stores Rebrand Under New Ownership
The WH Smith name is set to disappear from the British high street after more than two centuries, following the sale of its 480 stores to Modella Capital for £76m. The investment firm, which also owns Hobbycraft, will rebrand the shops as TGJones but has promised to keep the store’s Post Office services and existing product ranges. While WH Smith’s travel locations at airports and train stations will remain under the WH Smith name, its presence in town centres and retail parks will come to an end.
The sale allows WH Smith to focus on its more profitable travel business, which now accounts for 85% of the company's profits. Chief executive Carl Cowling called it a "pivotal moment" for the company, saying, "Given our rapid international growth, now is the right time for a new owner to take the High Street business forward." The high street division, which employs around 5,000 staff, will continue to be led by its current CEO, Sean Toal, during the transition.
Modella has yet to announce specific plans for the stores, but a spokesperson described TGJones as a "worthy successor" that "carries the same sense of family" as WH Smith. Retail experts suggest the firm will likely focus on improving store profitability and introducing new product lines. However, with the rebrand still unfamiliar to the public, it remains to be seen how the new identity will resonate with long-time customers.
