High street giant WHSmith is set to shut a further 10 stores this year taking its total of closures to 20 in the first half of 2025. Like many household names of the 1990s and 2000s, the company has been forced to adjust to changing market conditions over the last decade.
Earlier this year, the company which has approximately 1,200 stores worldwide, confirmed that its high street revenue was down 3% compared to the prior year in line with the firm’s expectations. The company has shifted focus in the last decade, positioning itself as a “focused global travel retailer” with premises in 32 countries. The transition has seen the retailer move away from physical high-street stores in pursuit of opportunities in travel hubs.
But since January, the retailer has closed ten stores across the country, as it adjust to what it calls “some economic uncertainty.”
In January, the company confirmed that it was exploring a possible sale.
In response to speculation, the firm said: “WHSmith confirms that it is exploring potential strategic options for this profitable and cash generative part of the Group, including a possible sale.
“Over the past decade, WHSmith has become a focused global travel retailer. The Group’s Travel business has over 1,200 stores across 32 countries, and three-quarters of the Group’s revenue and 85% of its trading profit comes from the Travel business.
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”
Days later, it was reported that Canadian entrepreneur Doug Putman, the man who swooped in to save HMV from bankruptcy in 2019, was exploring a possible approach to purchase the company’s 500 physical locations.
But the potential end of the famous UK shopping brands offers more misery for lovers of the British high-street, with once proud brands closing their doors nationwide.
Homebase and HMV are just two of the once mammoth figures in British retail to have announced a swathe of closures in recent years for a variety of reasons.
Already this year, WH Smith has closed ten sites across the country.
Following the latest announcement of closures many took to social media to express their disappointment at the news.
One Facebook user said: “Very sad, Halstead was once a lovely little town.”
Another in Woolwich which is set to lose it store commented simply: “RIP WHSmith.”
WHSmith have been contacted for comment.