WH Smith made only £10m from sale of 500 stores

cityam05-10

Up to 150 former WH Smith stores could shut in a drastic restructuring Retail giant WH Smith made just £10m from the sale of its 480 high street stores to a private equity firm after already slashing ...

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display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWH Smith made only £10m from sale of 500 stores\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-10 20:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/wh-smith-made-only-10m-from-sale-of-500-stores/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Up to 150 former WH Smith stores could shut in a drastic restructuring Retail giant WH Smith made just £10m from the sale of its 480 high street stores to a private equity firm after already slashing ...</p>\n\n<a href=\"https://www.cityam.com/wh-smith-made-only-10m-from-sale-of-500-stores/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WH","symbol_name":"Wyndham Hotels & Resorts 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restructuring as the stores – renamed TG Jones – struggle under their new owner.WH Smith’s 42m valuation was already a sharp downgrade from the 76m price tag held by the retailer when it first struck a deal with Modella, as the asking price was later slashed to reflect a “sharp deterioration in trading conditions”.Modella, which has snapped up a string of struggling high street retailers in recent years, paid only 10m upfront to WH Smith, according to documents circulated to its creditors.The remaining 32m was left contingent on TG Jones’ future cash flows, The Sunday Times has reported.Modella in urgent plea to WH SmithThe rescue plan, ad","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"WH":"Wyndham Hotels & Resorts Inc","BK4142":"酒店、度假村与豪华游轮"},"translate_title":"WH Smith出售500家商店仅赚了1000万英镑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WH":1.5},"content_text":"Up to 150 former WH Smith stores could shut in a drastic restructuring Retail giant WH Smith made just £10m from the sale of its 480 high street stores to a private equity firm after already slashing its asking price. Private equity firm Modella Capital bought WH Smith’s high street locations in a £42m deal last year but is poised to launch an emergency restructuring as the stores – renamed TG Jones – struggle under their new owner. WH Smith’s £42m valuation was already a sharp downgrade from the £76m price tag held by the retailer when it first struck a deal with Modella, as the asking price was later slashed to reflect a “sharp deterioration in trading conditions”.Modella, which has snapped up a string of struggling high street retailers in recent years, paid only £10m upfront to WH Smith, according to documents circulated to its creditors.\n\nThe remaining £32m was left contingent on TG Jones’ future cash flows, The Sunday Times has reported.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBut TG Jones is now battling to keep collapse at bay, as it enters an “aggressive” restructuring which could see as many as 150 stores close.Modella says the survival of the 234-year-old business is at stake, just a year after the Mayfair-based equity firm declared its ambition to position the retailer as the “hub of the high street”.The private equity firm had previously delayed the restructuring, which was initially due to be kicked off last month.\n\nModella in urgent plea to WH SmithThe rescue plan, advised by consultancy Teneo and law firm Slaughter and May, was dubbed “aggressive stuff” by a City 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