WH Smith in talks with two remaining parties regarding sale of high street stores
There are now only two remaining parties in talks with WH Smith about a potential sale of its chain of high street shops.
According to Sky News, these include Alteri, the owner of Bensons for Beds, and Hobbycraft owner Modella which has recently acquired The Original Factory Shop.
Subscribe to TRBSky has reported that a third potential bidder, Doug Putman, the owner of HMV, is no longer in talks with bankers at Greenhill. However, it is thought that he could try to put forward an offer before the auction concludes.
It is understood that a deal could be announced this spring, possibly when WH Smith reports its interim results in April.
The Retail Bulletin reported back in January that WH Smith was in talks to sell its 500 high street stores as it looks to focus on its more lucrative travel business. The stores employ around 5,000 people across the UK.
In the 21 weeks to 25 January, WH Smith reported a 4% increase in revenue, driven by a 6% like-for-like growth in its travel division. However, revenue at its high street stores declined by 3%.
