Swindon-based WH Smith is to sell its 480 retail stores to the Hobbycraft owner Modella Capital in a deal worth £76m, and has confirmed that the 233-year-old brand will disappear from the high street.
The high street business, which employs 5,000 staff, will be rebranded as TG Jones, while WH Smith is retaining its brand for its 1,300 travel stores and online business.
WH Smith said that it was also looking at “strategic options” including a sale of its digital greetings card business Funky Pigeon.
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