WHSmith is planning to sell its 500 high street stores in the UK and focus on its successful travel division. This move comes after the closure of 17 high street branches in 2023, raising concerns about the future of the remaining 195 stores. WHSmith's travel stores, located in train stations, airports, and hospitals, have experienced significant growth due to the increase in travel.
WHSmith has announced plans to divest its 500 high street stores across the UK, shifting its focus to its flourishing travel division. The company, renowned for its offerings of stationery, books, and gifts, also confirmed the closure of 17 high street locations this year. This news has sparked concerns about the future of its remaining 195 stores, some of which house Post Office branches.
This development follows a recent branch closure in Bournemouth on January 18, with another site in the town slated to close on February 15. Around the same time, three other WHSmith locations nationwide will also cease trading. The brand has stated that a total of 17 sites will be closed by the end of May, with two already shut earlier this month. The Accrington branch is scheduled to close on March 15.Meanwhile, WHSmith's travel stores, typically situated in train stations, airports, and hospitals, have experienced considerable growth thanks to the rebound in consumer travel. 'The transformation of our UK travel business from a news, books and convenience retailer to a one-stop-shop for travel essentials is progressing very well,' a company spokesperson noted last year. The renowned 233-year-old retailer is currently deriving 85% of its profits from its international travel operations, which span 32 countries, including India, North America, and Australia.However, the potential high street closures are not solely a concern for shoppers; they have also raised alarms within the Communication Workers Union, which represents Post Office workers within WHSmith stores, as reported by the Express. The union expressed its stance to the BBC, describing the potential shop closures as 'devastating'. Within this ongoing saga, the union has engaged in discussions with the retailer about the fate of their high-street locations, highlighting: 'For far too long, certain communities are being turned into postal deserts, and bad economic decisions are eroding high streets up and down the country.'Following the January 26 revelation of a potential sale, a spokesperson from WHSmith confirmed the speculation, stating: 'WHSmith confirms that it is exploring potential strategic options for this profitable and cash-generative part of the group, including a possible sale.' They clarified, however: 'There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.'
Whsmith High Street Stores Travel Sale Closure Post Office Communication Workers Union
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