WHSmith could close half of high street stores under new owner
WHSmith could shut at least half of its high street stores under a new owner, raising the possibility of large-scale job cuts at the business, according to industry experts.
WHSmith could shut at least half of its 500 high street stores under a new owner, raising the possibility of large-scale job cuts at the business, according to industry experts.
Forecasts for the final size of the stationery retailer range from no more than 250 shops, The Guardian reported.
Offers for WHSmith are expected during the next few weeks, with a deal finalised by early May.
The brand is currently in discussions with potential bidders, such as Hilco, Alteri, Modella Capital, and HMV owner Doug Putman.
Potential bidders are expected to pay up to £100m for the retailer.
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In January, it was reported WHSmith was in talks to sell its high street stores, over two centuries after it launched its first London site.
The group confirmed it was “exploring potential strategic options” for its 500 high street stores, including a potential sale, on 25 January.
It comes as WHSmith has increasingly focussed on its travel retail business during recent years.
The group currently operates over 1,200 stores across airports, train stations, and hospitals in 32 countries.
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