WHSmith in talks to sell all of its high street stores in £1.5 billion deal
25 January 2025, 10:41 | Updated: 25 January 2025, 11:55
WHSmith is in talks to sell all of its high street stores more than 230 years after opening its first location in London.
Listen to this article
Loading audio...
It comes after the brand announced plans to close 17 of its stores across the UK amid growing financial strain.
The book store, which has a valuation of nearly £1.5 billion, has been in talks with a number of prospective buyers.
"WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale," a statement said.
"Over the past decade, WH Smith has become a focused global travel retailer," the statement continued.
"The group's travel business has over 1,200 stores across 32 countries, and three-quarters of the group's revenue and 85% of its trading profit comes from the travel business.
Read more: WHSmith to close 17 stores this year - is your local branch affected?
"There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate."
WHSmith currently employs around 5,000 workers across its 500 stores in the UK.
The retailer confirmed in June 2023 that it would not be opening more high street stores, with it instead focusing on expanding outside the sector.
It comes after WHSmith announced plans to open 110 stores in airports, train stations and hospitals, where they see a higher profit.
More than 50 stores are also expected to be opened in North America.
The brand’s travel business now equates for more than 75% of the company’s revenue and more than 85% of its profits
Henry Walton Smith and his wife Anna opened the first WHSmith store in 1792 in central London.
The company has not commented on claims it could sell its high street arm.
In the coming months, the company plans to close at least 17 of its high-street stores.
Full list of WHSmith stores closing
- Bournemouth (Old Christchurch Road), Dorset - January 18
- Luton, Bedfordshire - January 18
- March, Cambridgeshire - January 25
- Basingstoke, Hampshire - February 1
- Newtown, Powys - February 15
- Bournemouth (Winton), Dorset - February 15
- Rhyl, Denbighshire - February 15
- Bolton, Greater Manchester – February
- Accrington, Lancashire - March 15
- Halstead, Essex - April
- Halesowen, West Midlands - April
- Diss, Norfolk - April
- Newport, South Wales - April
- Haverhill, Suffolk - April 26
- Stockton, County Durham - May
- Oldham, Greater Manchester - May
- Orpington, Greater London - no date given
