One of Britain’s best-known retail brands, WHSmith, is set to disappear from the High Street as hundreds of its stores are rebranded under a new name following a £76million deal. The iconic UK retailer, which has become synonymous with everything from books to stationery, will see its high street branches renamed as TGJones, marking a significant shift in the company’s business strategy.
The deal, which has been agreed between WHSmith’s owner and Modella Capital, the parent company of Hobbycraft, will result in Modella acquiring nearly 500 WHSmith high street stores. However, the sale excludes WHSmith’s travel locations, which include outlets in airports, train stations, and hospitals. These travel shops will continue to operate under the WHSmith name as the company pivots to focus exclusively on its rapidly expanding global travel business.
Approximately 480 WHSmith high street stores, employing around 5,000 staff members, will transition under Modella’s ownership. The rebranding to TGJones, a name that will be phased in across the country, will alter the familiar WHSmith look and feel for many high street shoppers.
However, customers will still see the familiar WHSmith brand at travel-related locations like airports and railway stations, which will remain unchanged.
The decision to sell off the high street business comes as WHSmith’s leadership team focuses more on its travel retail arm. Carl Cowling, WHSmith’s group chief executive, said: “As we continue to deliver on our strategic ambition to become the leading global travel retailer, this is a pivotal moment for WHSmith as we become a business exclusively focused on travel.”
“As our travel business has grown, our UK high street business has become a much smaller part of the WHSmith Group.”
Cowling emphasised that while the high street division remains profitable and cash-generative, the focus on international growth in travel retail made this sale the right decision. “I wish the High Street team every success,” he added.
For customers used to shopping at WHSmith in town centres, the rebranding to TGJones will signal a major shift in the retail landscape.
WHSmith has been a staple on British high streets for decades, and the transition to the new brand will be a nostalgic change for many loyal shoppers.
As part of the transition, Modella Capital, which has a proven track record in managing retail businesses, will oversee the operation of these high-street stores.
The rebranding and restructuring aim to revitalise the stores and adapt to changing consumer habits while continuing to offer products that people need every day, such as books, stationery, and greeting cards.