WHSmith update as sale ‘on track' for this month before it disappears from high streets
THE sale of 480 WHSmith stores is set to complete this month before the brand disappears from the high street for good.
The deal to sell off the branches to Hobbycraft owner Modella Capital is set to be finalised by the end of June, WHSmith said.
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The deal, which was agreed in March, will see the WHSmith name disappear from British high streets.
The stores will be replaced with new brand TGJones.
All of the 480 WHSmith stores and 5,000 staff working for the high street arm of the retail chain will move under Modella Capital's ownership as part of the deal.
It comes as WHSmith said in an update its remaining travel division, which includes shop in airports, train stations and hospitals, saw like-for-like sales up 5% in the quarter to May 31.
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