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WH Smith cuts high street unit sale price by £12M to £40M, focusing on travel retail instead.
WH Smith has reduced the sale price of its high street business to Modella Capital by £12 million due to lower cash flow, now expecting up to £40 million.
The sale involves about 480 stores and 5,000 staff, with the high street arm rebranded as TG Jones.
WH Smith is shifting focus to its travel retail business, which is more profitable, amid challenges for traditional high street retailers.
The sale will leave WH Smith as a pure-play travel retailer.
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WH Smith reduce el precio de venta de la unidad de la calle principal de 12 millones de libras esterlinas a 40 millones de libras esterlinas, centrándose en su lugar en el comercio minorista de viajes.