Why the name WH Smith may soon vanish from high streets after 230 years

WH Smith could vanish from high streets due to a catch in the sale of its stores.

Struggling to compete with online shopping and discount stores, the 230-year-old retail chain is looking to sell off its 500 high street stores so it can focus on its more lucrative shops in train stations, airports and hospitals.

Instead of splitting the company into two firms with one name, chief executive Carl Cowling is understood to want whoever buys the high street side to run it with new branding, The Times reports.

‘WH Smith has a very disparate product offering and the brand name has been the glue that has held it together’, according to retail expert Richard Hyman, of Aria Intelligent Solutions consultancy.

‘Without that it’s going to be very difficult [for a new buyer].’

The retailer has already closed 16 high street stores in the UK since 2024, and it has another 10 planned this year.

Last year was one of the worst ever recorded for the British high street, with over 13,000 store closures from big brands reported.

But long-term decline and an exclusion of the brand name doesn’t appear to have dampened interest in WH Smith.

Among those eyeing up the assets at auction, run by Greenhill bankers, are Alteri and Modella Capital – investment firms specialising in buying and restructuring distressed retailers.

Doug Putman, the Canadian billionaire who rescued HMV and has reportedly been scouting more UK business opportunities, has also been touted as a potential buyer.

WH Smith’s high street revenues dropped 3% in the 21 weeks to January 25, compared to the same period the year before.

The rest of the business experienced growth in that time, with the travel retail business generating 85% of profits, indicating the diverging fates of the company.

Relatively short leases – two years on average – mean loss-making or underperforming stores could be closed quickly by a new buyer.

Around 200 WH Smith high street stores also have a post office.

Other high street brands facing closure include 100 New Look stores, and a selection of Greggs, Trespass and Dobbies branches.

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