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The Guardian - UK

Business

Lauren Almeida

WH Smith cuts sale price of high street business by £12m

WH Smith Modella Modella Capital

People walk past a branch of the WH Smith store in London — WH Smith will now receive gross cash proceeds of up to £40m, not the £52m expected in March. Photograph: Neil Hall/EPA

WH Smith has cut the sale price of its high street business by £12m, after trading at the chain deteriorated in recent weeks.

The 230-year-old British business closed the sale to the investment company Modella Capital on Monday, and revealed that the sale value terms had been revised down.

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