WH Smith to disappear from the high street as all shops sold in £76m deal

WH Smith has agreed to sell its UK high street chain to Hobbycraft - (Getty)

WH Smith will disappear from the high street after a deal to sell its UK high street business to investment firm Modella Capital, owner of the arts and crafts retailer Hobbycraft, for £76m.

The move will eventually see the familiar WH Smith name replaced by the TGJones brand. The sale only affects WH Smith's traditional storefront locations and does not include its lucrative travel retail business, which operates in airports and train stations.