WH Smith
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Jun- 2025 -30 JuneHigh Street
WH Smith cuts price of high street arm by £12m to close deal
WH Smith has officially completed the sale of its UK high street business to private investment firm Modella Capital for £40m, down from the previously expected £52m. Under the new terms, WH Smith will receive £10m upfront, with up to £20m in deferred payments linked to the business’s cash flow…
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13 JuneHigh Street
Activist investor builds stake in WH Smith
Activist investor Palliser has reportedly acquired close to a 5% stake in WH Smith, worth about £65m at its current share price, according to reports from Sky News. Palliser is thought to hold WH Smith’s management team, led by chief executive Carl Cowling, in high regard with the move coming…
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4 JuneHigh Street
WH Smith travel sales jump 7% ahead of high street arm sale
WH Smith has reported that its travel business revenues have increased 7% on a constant currency basis during the 13-week period to 31 May. The update follows WH Smith’s sale of its high street estate to Modella Capital on 28 March, meaning that it now identifies as “a pure play…
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May- 2025 -19 MayHigh Street
Poundland store closures ‘likely’ as sale nears completion
Poundland store closures are reportedly “likely” as Gordon Brothers, the former owner of Laura Ashley, has emerged as a frontrunner to take control of the group, according to The Times. Bids for the group, which is owned by Pepco and employs more than 16,000 people across the UK and Ireland,…
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6 MayNews-In-Brief
Today’s news in brief-6/5/25
Deliveroo has agreed to a £2.9bn takeover by US rival DoorDash, creating a combined entity operating in over 40 countries with annual orders exceeding £10bn. The deal, offering a 44% premium on Deliveroo’s share price, was approved by its board. DoorDash CEO Tony Xu highlighted the potential for expanded innovation,…
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6 MayHigh Street
WH Smith buyer faces year-long ban from mass store closures
The new owner of WH Smith’s high street chain has effectively been banned from enacting widespread store closures for at least 12 months following the acquisition of the chain in March. According to Sky News, WH Smith would have the right to cancel a year-long transitional services agreement (TSA) with…
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Apr- 2025 -28 AprilHigh Street
Hilco Capital and Endless table offers for Poundland
Several potential buyers have reportedly tabled their offers to acquire Poundland, after the retailer has been hit by struggling sales and mounting losses in recent months. According to Sky News, Hilco Capital and turnaround investor Endless both set forth their respective proposal offers on Friday (25 April) ahead of a…
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25 AprilNews-In-Brief
Today’s news in brief-25/4/25
The John Lewis Partnership has appointed Andy Mounsey as its new chief financial officer, effective immediately. Mounsey, who had been serving as interim CFO since last autumn, brings 13 years of experience within the business, including roles as Group Finance and Strategy director. A chartered accountant with prior experience at…
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25 AprilHigh Street
Hobbycraft set to close nine stores
Hobbycraft is set to close nine stores, a move affecting up to 126 jobs, as part of a restructure led by new owners Modella Capital, it confirmed to the BBC. The restructuring will also result in redundancies across its Bournemouth head office and distribution centre in Burton-on-Trent but it has…
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16 April
Today’s news in brief-16/4/25
Inflation in the UK fell more than expected to 2.6% in March 2025, down from 2.8% in February, driven by declines in petrol prices and recreation and culture costs, according to the Office for National Statistics (ONS). The largest downward contributions came from motor fuels, housing, and household services, while…
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