Amid talks to sell its High Street division, WH Smith has revealed that it is closing more of its branches over the coming weeks.
The latest round of closures will bring the total number shut since the beginning of the year to 20.
Whilst its Travel unit, which operates stores in airports and train stations, has prospered, the group has been closing underperforming sites on the High Street in recent years after a prolonged run of falling sales due to difficult trading conditions and increased online competition.
Earlier this month, it was revealed that just two firms (restructuring specialists Alteri and Modella Capital) were battling it out to acquire WH Smith’s ailing 500-strong High Street chain.
NAM Implications:
- As night follows day…
- The closures will continue, even under new management.
- Until the WH Smith High Street Estate reaches a group of profitable outlets.
- Wait & See..
