Whmsmith’s name to disappear from the UK streets, where it returns its trademark to TG Jones in a deal 76 million pounds

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WHSMTTH stores will disappear from the UK’s upper streets and will be renamed TG Jones after a deal worth 76 million pounds to sell business on Friday.

The group will drop all 480 stores on high streets, shopping centers and retail gardens to Modella Capital, an investment company in the United Kingdom and retail consumers, to focus on the profitable international retail business, which represents the majority of its sales and profits.

the Whsmw The company said on Friday that the stores will be renamed as TG Jones as part of the deal. Group travel stores at airports, train stations and hospitals will continue to circulate under the name whom, which has 233 years.

“It looks like a successor deserves the whismith brand”, adding: “Jones holds the same sense of the family and reflects these stores in the heart of everyone’s street.”

She said that the stores will keep the same products and services, including the post office, and the usual trade while Model worked with the management team in a new strategy.

Modella added that she “believes strongly in the future of the high street” after previous speculation by some analysts that the new owner can consider closing the stores in the efficiency campaign.

The sale of the department, compared to the value of an institution of 76 million pounds on the basis of debt -free cash, is an important moment for the UK Supreme Street, which has been severely disturbed by turning to online shopping and prominent collapses such as Debenhams and Topshop.

WHSMTHH was founded in 1792 as family exchange newspapers, and opened the first retail store for travel at EUSTON in London in 1848.

Over the past decade, FTSE has become 250 international travel retail companies through acquisitions, including a $ 400 million deal to buy the Marshall Retail Group in the United States in 2019.

“With the growth of the travel trade, the UK street business has become much smaller than the group.” Whsmit was aimed at “becoming a pioneering global retail dealer.”

The news comes two months after the group revealed that it is holding talks to sell its work in the upper streets.