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WHSmith hints shop network set to shrink
Evening Standard
|November 09, 2023
THERE were fresh fears for the high street today in the run-up to Christmas as some of the country’s best known retailers warned of possible shop closures, slowing growth and worsening customer confidence.
High street stalwart WHSmith hinted that its network of shops is set to shrink as it noted that 480 leases will expire in the next three years and that “we only renew a lease where we are confident of delivering economic value”.
Boss Carl Cowling told the Standard that there will likely be closures, but that the company also hoped to negotiate lower rents to keep stores open as demand for retail space falls.
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