WH Smith high street sale on track as stores will rebrand as TGJones

WH Smith has reaffirmed its plans to sell its high street division to Hobbycraft’s owner, Modella, by the end of the month.

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In March, the FTSE 250 firm announced it had agreed to divest the arm in a deal valuing it at £76m.

Upon completion, the WH Smith brand will vanish from British high streets, replaced by TG Jones.

All approximately 480 stores and 5,000 staff members of the Swindon-based high street businesses will transition to Modella Capital’s ownership as part of the agreement.