[ad_1]
WH Smith sold his 233-year-old High Street business to the owner of Hobbycraft for £ 76m.
Sky News revealed in January how a The sales process was underway for the armwho employ about 5,000 people and have nearly 500 stores.
Modella Capital has the Final phase of the auction process In a lead against alteri investors – both specialists to reverse upset retailers.
Money Latest: Time runs out for EV drivers to save £ 195
The agreement will be wiped out the WH Smith name from the centers to become Tgones.
The sale enables the WH Smith business to focus fully on its profitable travel trader.
It has about 1,200 stores, mainly at airports and railway stations, in 32 countries worldwide and is 85% of the group gain.
CEO Carl Cowling said: “Given our rapid international growth, it is now the right time for a new owner to take the High Street business forward and for the WH Smith leadership team to focus exclusively on our travel industry.”
Read more from Sky News:
Portreus ‘Discredited’ by Minister Despite £ 1 Billion Investment
Trump rates: German town is about the future
Boohoo’s Debenhams opposed by Ashley
This breaking news story is being updated and more details will be published soon.
Refresh the page for the full version.
You can breaking news alerts on a smartphone or tablet via the Sky News -App. You can also follow @Skynews on x or sign up on us YouTube channel To keep up with the latest news.
[ad_2]
Source link
