by The WH name will disappear from the High Street after more than 230 years because the retailer sells 480 shops.
WH Smith said the locations were renamed as “TG Jones” after they were sold to the investment Company Modela Capital for £ 76 million.
While the company is kept its more profitable travel locations at airports and train stations, this means that WH Smith, which was founded in 1792, will no longer be seen in city centers and retail parks.
The High Street Business employs around 5,000 people. It is renamed Jones – a name that its new owners make as good as Wh Smith. A modela spokesman said: “TG Jones feels like a worthy successor to the WH brand. Jones wears the same family feeling and reflects these shops in the heart of the high street Aller.”
WH Smith has been talking in talks for months to sell his high street business. The department is now only 15 percent of the profits, and the company has focused on the growing travel business with around 1,200 shops.
Carl Cowling, the company’s managing director.
“We have a very successful travel business that works in rapidly growing markets in 32 countries, and we are constantly innovative to achieve strong returns and meet the needs of our customers and partners.
“When our travel business has grown, our British high street business has become a much smaller component of the WH-Smith group. High Street is good business; it is profitable and generative with an experienced and powerful management team.
“In view of our fast international growth, the right time for a new owner is now to bring the High Street business forward, and the WH Smith management team to concentrate exclusively on our travel business. I wish the High Street team any success.”
Modela, which also belongs to the original factory business, also reports Lakeland.
The business continues to be managed by Sean Toal, head of WH Smith’s retail department. After completing the business, the business will continue to be mentioned for a little time, which is expected in summer.
High Street retailers were increased from rising taxes, economic stagnation and an increase in the minimum wage.
Wh Smith – founded by Henry Walton Smith in London in 1792 – was renamed after his son William Henry Smith took over the business.
