WH Smith Sells High Street Stores, Ending 233-Year Presence

The £76 million sale to Modella Capital transitions 480 stores to TG Jones, as WH Smith pivots entirely to its profitable travel retail business.

WH Smith has finalized the sale of its 480 high street stores to Modella Capital for £76 million, marking the end of its iconic brand on UK high streets.
The high street stores will be rebranded as TG Jones after a short transitional period, reflecting a strategic shift by WH Smith to focus on its travel retail operations.
WH Smith's travel division, which operates in 32 countries and generates 85% of the company's profits, will remain under its ownership.
The sale impacts 5,000 employees, with Modella Capital now responsible for the stores' future operations and potential restructuring.
Sean Toal, the current CEO of WH Smith's high street business, will continue to lead the rebranded TG Jones stores under Modella's ownership.