WH Smith is set to disappear from town centres within weeks, but its shops will remain in three places. The company is preparing to complete the sale of its high street business by the end of June, marking the end of an era for one of the UK’s oldest retailers.

The £76 million deal, first announced in March, will see the high street arm sold to Modella Capital, the investment group behind brands like Hobbycraft and Paperchase. As part of the sale, around 480 WH Smith stores and 5,000 staff will transfer to the new owner, according to a report by This Is Money.

Although the WH Smith name will no longer appear on high streets, its presence won’t vanish entirely. 

The group’s fast-growing travel division, which includes shops in airports, train stations, and hospitals, will remain in place and continue to expand. 

This means travellers passing through busy hubs will still see the brand, even if it’s gone from their local high street.

The new owner, Modella Capital, plans to rebrand the stores under the TGJones name, although it has confirmed that the Post Office branches found in many WH Smith shops will be kept. 

It has not yet said whether any jobs will be lost following the takeover.

The decision to sell follows years of decline for WH Smith’s high street business, which has struggled with falling footfall and rising costs. 

In contrast, the company’s travel division has become its strongest performer, now operating more than 1,200 shops across 32 countries. 

WH Smith said like-for-like travel sales rose 5% in the quarter ending May 31, with airport shops seeing a 7% increase.

Investor interest in the travel side of the business remains high. Richard Hunter of Interactive Investor told This Is Money the sale is “a strategically sound move” that leaves WH Smith as a “pure play travel retailer.”

He added that airport locations, in particular, offer the retailer “captive customers” and long-term growth potential.

Despite the positive outlook for its travel hubs, WH Smith’s share price is still recovering from past setbacks. 

Shares have fallen around 9% in the past year and remain 61%  below their pre-pandemic peak.

The company, which first opened its doors in London in 1792, became known for selling newspapers, books, and stationery. Its first travel store opened in Euston Station in 1848.