WHSmith’s High Street stores to become TGJones in £76m deal
WHSmith has sold its High Street business to Modella Capital in a £76m deal that will see the stores rebranded as TGJones.
All 480 stores, its Swindon based Support Centre, and 5,000 employees will move over to Modella, which already owns Hobbycraft.
WHSmith's strategy has been to become a global travel retailer. It was already generating 75% of its £1.5bn revenue, and a greater proportion of its trading profits, from 1,200 sites in locations including airports, railway stations and hospitals in 32 countries.
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