WHSmith is reportedly in “secret talks” to sell all of its high street stores more than 230 years after opening its first location in London.
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, according to a report by Sky News.An announcement regarding a sale could come as early as next week, the report claims.WHSmith currently employs around 5,000 workers across its 500 stores in the UK.
The brand’s travel business now equates for more than 75% of the company’s revenue and more than 85% of its profitsHenry 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.
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