WH Smith name to disappear from High Street after sale

The WH Smith name is set to disappear from UK High Streets after 233 years after the firm agreed to sell its shops to Hobbycraft-owner Modella Capital.

The sale does not include the WH Smith brand, its travel shops at airports and railway stations or its outlets in hospitals.

The new owner will rebrand the network of High Street news and stationery outlets as TGJones, marking an end for WH Smith which set up its first shop in London in 1792.

Modella Capital will take over 480 stores and 5,000 staff.

WH Smiths has been a staple of UK High Streets since the Victorian era when it became the country’s principal newspaper distributor.

It still sells papers and magazines, alongside books, sweets and snacks and art supplies.

WH Smiths group chief executive Carl Cowling said the £76m sale, was “a pivotal moment” for the company, which would now focus exclusively on the travel-related side of the business.

“High Street is a good business; it is profitable and cash generative with an experienced and high-performing management team,” he said.

“However, given our rapid international growth, now is the right time for a new owner to take the High Street business forward.”

The travel division operates more than 1,200 stores in 32 countries.