British books and stationery giant WH Smith will sell 480 retail outlets to Modella Capital, the owner of Hobbycraft, in a deal worth approximately £76m (€91.2m). The Swindon-centred brand, which has been trading since 1792, will subsequently vanish from UK high streets soon. Several stores in shopping centres and retail parks will be acquired as well, although the timeline for the transition is not yet published
The high street business will be renamed TGJones, while the firm will keep the WH Smith brand for its travel business, which operates in railway stations and airports, as well as hospitals. The Post Office counters that are present in several WH Smith outlets will also keep running as usual.
