WHSmith, the renowned British retailer established in 1792, has recently sold its 480 high street stores to Modella Capital, a private equity firm, for £76 million. This strategic move allows WHSmith to concentrate on its more profitable travel retail operations, which include outlets in airports, train stations, and hospitals.
Modella Capital, known for owning other retail brands such as Hobbycraft and The Original Factory Shop, plans to rebrand the acquired stores as TGJones. Despite the name change, Modella intends to maintain the existing product offerings and services, including Post Office branches and Toys "R" Us concessions.
The rebranding to TGJones has sparked curiosity and some criticism. A Modella spokesperson explained that the name is intended to evoke a familiar, family-oriented feel, resonating with UK customers. However, some have questioned the choice, with critics labelling it as "idiotic" and nonsensical considering the historic significance and legacy of Henry Walton and William Henry Smith.
This transition marks the end of WHSmith's 233-year presence on the British high street, reflecting broader trends in the retail sector where companies are adapting to changing consumer behaviors and focusing on more profitable segments
