Retailers Association Welcomes New Chapter for WHSmith High Street Stores…
A retailers association has responded to Friday’s announcement that WHSmith has sold its 480 high street stores to Modella Capital for £76 million, expressing cautious optimism for the future of these important retail spaces.
The stores will be rebranded as TG Jones, while WHSmith will continue to operate its travel retail business in airports, train stations, and hospitals under its historic 233-year-old brand name.
Andrew Goodacre, CEO of the British Independent Retailers Association:
“The sale of WHSmith’s high street business to Modella Capital represents a significant change for the UK retail landscape, but importantly, it appears these stores will continue to operate under new ownership rather than close entirely.
“We welcome Modella Capital’s investment in these high street locations and hope this will secure the future of these stores, protect valuable jobs, and maintain essential services like Post Office counters that many communities rely upon. As champions of retail diversity and vibrant high streets, Bira sees potential in this transition. We hope Modella Capital will bring fresh ideas and renewed investment to these locations.”
Bira, which represents 6,000 independent retailers across the UK, continues to advocate for government policies that support all high street businesses, including meaningful business rates reform and initiatives to increase footfall in town centres.
“The high street continues to face significant challenges, but this acquisition shows there is still value and opportunity in town centre retail when approached with the right business model and investment,” added Mr Goodacre.
