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28
Mar
WHSmith to disappear from Ripon and Harrogate
The WHSmith name is to disppear from the high street in Harrogate and Ripon after almost 100 years.
The retailer announced today it will be taken over by investment firm Modella Capital in a deal worth £76 million.
WHSmith will continue to trade under its name in airports, hospitals and train stations.
The company, which was founded in 1792, has operated in Harrogate since 1930 and Ripon since 1935.
WHSmith high street stores will be rebranded under the name TGJones.
The Stray Ferret contacted Modella Capital, who said that TGJones will keep the Post Office outlets that operate in many WHSmith branches, including Harrogate. Toys "R" Us, which was partially taken over by WHSmith in 2005, will also continue to operate.
Ripon's WHSmith store
WHSmith has confirmed that staff will transfer under Modella Capital’s ownership.
WHSmith's high street stores have struggled in comparison with its sites in airports, hospitals and train stations.
In the financial year ending August 2024, 85% of the retailer’s profit came from its travel locations.
Carl Cowling, group chief executive, said:
As we continue to deliver on our strategic ambition 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 successful travel business, operating in fast growing markets in 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 opportunities in both 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.
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