Whsmith name that disappears from the British main roads while renaming TG Jones in 76 million GBP

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WHSMITH brand shops will disappear in the British high streets and after a 76th pound deal to sell the shop on Friday, to be renamed TG Jones.

The group will unload all 480 shops in high streets, shopping centers and retail parks according to Modela Capital, a British investment company for consumers and retailers, to focus on the lucrative international travel business that constitutes most of its sales and profits.

The WHSMW The business would be renamed as TG Jones as part of the deal, the company announced on Friday. The group’s travel transactions at airports, train stations and hospitals will continue to act under the WHSMITH name that has a 233-year history.

Modela, which also belongs to hobbycraft in Great Britain, said on Friday that the new name “like a worthy successor to the WHSMITH brand” adds: “Jones has the same family feeling and reflects these businesses that are at the center of the high street of all mouths.”

The business would maintain the same products and services, including the post office, and act as normal, while Modela worked on a new strategy with the management team.

Modela added that, after earlier speculation of some analysts, it could be “strongly followed by the High Street” in the future.

The sale of the department for a company value of 76 million GBP and debt-free is an important moment for the British high street, which was severely hit by relocating online shopping and top-class collapse such as Debenhams and Topshop.

WHSMITH was founded in 1792 as a family -run news agent and opened his first tour operator in the Euston Station in London in 1848.

In the past ten years, the FTSE 250 companies have become an international traveling dealer through acquisitions, including a 400 million. -Dollar deals for the purchase of Marshall Retail Group in the USA in 2019.

Carl Cowling, Managing Director of WHSMITH, said that the British High Street business with the “travel business” had become a much smaller part of the group “. WHSMITH wanted to” become the world’s leading travel dealer “.

The message comes two months after the group revealed that it was in discussions about selling its high street business.