WH SMITH TO DISAPPEAR FROM TEDDINGTON’S BROAD STREET
The WH Smith retailer in Broad Street, Teddington, will be rebranded as part of the multi-million pound sale of the well-known High Street chain, Teddington Town learned today.
All 480 WH Smith high street stores, including the one in Twickenham too, are being sold to investment company Modella Capital for just £76 million and will be rebranded TG Jones.
However, it will continue to be the trading name for hundreds of WH Smith travel outlets in the UK and 32 other countries at airports, train stations, motorway service station, and at hospitals
The High Street business employs around 5,000 colleagues across 480 stores.
They will keep the same range of products and services, including the Post Office and Toys “R” Us outlets “while Modella Capital works with the management team to define and execute a strategy to introduce new ranges and other offerings in the future.”
“Today, over one million customers visit these stores every week. Modella Capital believes strongly in the future of the high street, and we are delighted to have the opportunity to take a heritage brand and develop it further in the coming years. “TG Jones feels like a worthy successor to the WHSmith brand. Jones carries the same sense of family and reflects these stores being at the heart of everyone’s high street.
Sean Toal, CEO of the new TG Jones business, added: “Selling the High Street business has been a significant milestone for the WHSmith Group, and I am delighted that we have agreed a sale with Modella Capital who, I know, will be supportive new owners.