WH Smith brand to disappear from high street as £76m sale of stores to Modella agreed
by Mark Sweney from on (#6W7WT)
Under terms of deal with Hobbycraft owner, 233-year-old brand will become TGJones
WH Smith is to sell its 480 retail stores to the Hobbycraft owner, Modella Capital, in a deal worth 76m, and has confirmed that the 233-year-old brand will disappear from the high street after a short transitional period".
Under the terms of the deal, the high street business, which employs 5,000 staff, will be rebranded as TGJones, while WH Smith is retaining its brand for its travel shops.
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