Whismith, negotiations on selling the British High Street Store

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The retailer WHSMITH is negotiating for the sale of a British luxury street store for 200 years after its first store in London.

The FTSE 250 company, which has been focusing on stores such as airports, train stations, and hospitals for recent years, has confirmed Saturday that it is seeking potential strategic options by completely selling about 500 British stores with about 5,000 employees.

The busy, well -known for stationery and books, is negotiating with some potential buyers, and an official who is familiar with this process will agree in the next few months.

But Whsmith warned that Saturday is not sure what agreement will be made.

According to two people who are familiar with this process, stakeholders in the company's city shops include Alteri, a private equity investor who focuses on retail business, and Hilco, a turnaround expert.

Jonathan Pritchard, an analyst at Peel Hunt, says private equity companies are more likely to be in a better location for extracting value from Whsmiths stores, and they are unlikely to acquire the store.

He added that private equity funds will always have a mechanism to squeeze more juices in orange. If you can secure this with a low drain and confirm more cost savings, you will probably be able to get back the money quite quickly.

WHSMITH recorded a 7% increase in group revenue in the fiscal year, which ended on August 31, and the tax revenue decreased from 110 million to 16 million in the previous 12 months.

Kate Calbert, an analyst at Investec, said that the decision that Whsmith decided to review the sale of luxury stores is only another stage of the company's development.

Whismiths' travel business and high street sector have always been quite separated from the infrastructure. that [the high street arm] She is still creating good cash and added that cash is useful for growing the travel business internationally.

In the last decade, Whsmith has become an international travel retailer through the same acquisition of $ 400 million in transactions for the acquisition of Marshall Retail Group in 2019.

The strategic review, first reported by SKY NEWS, has become a watershed in British high street history, which has been struggling due to the transition and cost increase in online shopping.

Some existing chains, such as Debenhams and Topshop, have disappeared from the center.

Whsmith was founded in 1792 as a family -run newspaper store, and in 1848, it opened its first travel retail store in Estate, London.

The Whsmiths travel business currently has more than 1,200 stores in 32 countries, accounting for 3/4 of the group's sales and 85%of the transaction profit.

Calvert added: Is the business big enough to grow in other places and really need cash flow? [from the high street arm]? I think that's the decision.

Independent analyst Tony Shiret said that the management of WHSMITH said that he could buy the high street division and operate it as a private company, but people close to the company said that there is no move on the card.

Hilco refused to comment. Alteri did not immediately respond to the request for comment.

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