In a blow to the high street, another major UK retailer has announced more closures this year. WHSmith which has over 1,100 stores across the UK, already closed multiple branches at the beginning of this year - and more stores will be shutting its doors soon. In total, WHSmith is expected to have 17 stores closed this year.
It has also been revealed that the books and stationary giant is being bought out in a major deal. Modella Capital, the group who owns Hobbycraft is set to buy out the WHSmith in a £76 million deal. Over 480 stores will be taken over and rebranded as TGJones as part of the deal, while WHSmith's branches in airports, railway stations and hospitals will remain.
Since the beginning of the year, the 233-year-old retailer shut down nine of its branches, with it's Bournemouth Old Christchurch Road, Dorset and Luton, Bedfordshire branches the first to shut their doors on January, 18, with seven following.
A further six closures will take place this month including stores in Halstead, Essex and Woolwich, east London, which are due to permanently shut today (April 12).
Multiple closures will follow in May as well as one in July and a store in Orpington, Greater London is scheduled to close. However, a date for it is yet to be confirmed.
Car Cowling WHSmith group chief executive said: "As we continue to deliver on our strategic amotion to become the leading global travel retailer, this is a pivotal moment for WHSmith as we become a business exclusively focused on travel.
"We have a highly succesful travel business, operating in fast growing markets 32 countries and we are constantly innovating to deliver strong returns and meet our customers' and partners' needs.
"With the ongoing strength in our UK travel division, and the scale of the growth in opportunities in North America and the rest of the world, we are in our strongest ever position to deliver enhanced growth as we move forward as a pure play travel retailer."
