WH SMITH SELLS HIGH STREET STORESĀ – The rebrand comes after 233 Years in retail
After more than two centuries as a staple of the British high street, WH Smithās presence in town centres is coming to an end following the sale of its entire high street store network to private equity firm Modella Capital.
The Ā£76 million deal includes all 480 high street stores but does not include the WH Smith name. Instead, the shops will be rebranded as TG Jones, a newly created name designed to evoke the heritage of WH Smith. The iconic retailer was originally founded in 1792 by Henry Walton Smith and his wife, Anna, in London.
Despite this major shift, WH Smith will retain its well-known branding in its more profitable travel division, which operates hundreds of stores in airports, train stations, motorway service areas, and hospitals across the UK and in 32 other countries. The company has increasingly focused on this segment, which now accounts for 75% of its revenue and 85% of its trading profits.
The high street division, which employs around 5,000 staff, has struggled in recent years due to shifting consumer habits and the economic challenges facing town and city centres.
Modella Capital has assured customers that the rebranded TG Jones stores will continue to offer the same range of products and services, including Post Office branches and Toys āRā Us outlets. The firm also plans to introduce new product ranges and business strategies to revitalize the stores in the future.
