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UK retailer WHSmith is in talks to promote its excessive road chain greater than two centuries after it opened its first store in London.
The corporate, which has been specializing in its outlets in airports, hospitals and prepare stations in recent times, confirmed on Saturday that it was “exploring potential strategic choices”, together with an outright sale of about 500 shops.
WHSmith, a excessive road stalwart identified for its stationery and books, is in talks with a number of potential patrons and a deal could possibly be reached within the coming months, based on an individual accustomed to the method.
Nevertheless, the retailer cautioned “there will be no certainty that any settlement can be reached”.
Over the previous decade WHSmith has grow to be a world journey retailer by way of acquisitions reminiscent of a $400mn deal to purchase Marshall Retail Group within the US in 2019 and paying £155mn for InMotion, one other US retailer of expertise merchandise, in 2018.
The transfer, which was first reported by Sky Information, marks a watershed second within the historical past of the UK excessive road.
WHSmith was established in 1792 as a family-run newsagent, and some a long time later it opened the primary journey retail retailer in London’s Euston station in 1848.
Its excessive road division, albeit worthwhile and money generative, has needed to adapt to a altering retail panorama characterised by a shift to on-line procuring and rising day-to-day enterprise prices.
On the similar time, many established chains reminiscent of Debenhams and Topshop have disappeared from the excessive road.
WHSmith’s journey enterprise now has greater than 1,200 shops throughout 32 international locations, and it accounts for three-quarters of the group’s income and 85 per cent of its buying and selling revenue.
