WH Smith

WH Smith H1 high street profits fall to £15m ahead of sale

WH Smith has reported that high street trading profits fell, from £22m to £15m, in the six months ended 28 February 2025, while total travel trading profits saw an uplift of 12% to £56m during the same period.  The group agreed the sale of its UK high street business on…

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Hilco closes in on Lakeland deal

Family-owned homeware retailer Lakeland is close to being acquired by high-street investment firm Hilco Capital, according to reports from Sky News. Hilco, which has previously backed retailers including HMV and Superdry, could agree a deal in the coming days, according to insiders. If confirmed, the deal would follow months of…

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Lakeland becomes latest bid target for Modella Capital

Homewares retailer Lakeland has become the latest takeover target of retail investor firm Modella Capital, Sky News has revealed.  The investment firm, which owns Hobbycraft and The Original Factory Shop, is among a small number of parties trying to acquire a controlling stake in Lakeland. According to retail industry sources,…

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Today’s news in brief-25/3/25

WH Smith has successfully completed a refinancing deal, securing a £200m US Private Placement and a new £120m bank term loan. The move diversifies its debt financing ahead of a potential sale of its high street business, which includes over 500 stores. Two firms, Alteri Investors and Modello Capital, remain…

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WH Smith completes refinancing amid plans to sell high street arm 

WH Smith has successfully completed a refinancing, which includes its first US Private Placement (USPP) as well as a new bank term loan of £120m, ahead of the group’s potential sale of its high street arm. The £200m USPP notes have a maturity of seven, 10 and 12 years and…

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New TOFS owner eyes potential CVA and store closures

Modella Capital, the owner of The Original Factory Shop (TOFS), is reportedly working with Interpath Advisory on a potential company voluntary arrangement, according to Sky News.  Having acquired the retailer four weeks ago with no remaining bank debt, Modella is seeking to restructure the business and is currently “exploring options”. …

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Today’s news in brief-13/3/25

John Lewis Partnership has announced that its staff will not receive a bonus for the third consecutive year, despite tripling its full-year profits from £42m to £126m. Instead, the company is investing £114m into staff pay, building on a £116m increase in 2024, and up to £600m in business transformation.…

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Hobbycraft owner eyes potential restructuring

Hobbycraft owner, Modella Capital, has reportedly enlisted advisers from FRP to explore a restructuring at the crafts chain, Sky News has reported.   Modella, which acquired the retailer seven months ago, is examining its options such as a company voluntary arrangement (CVA). CVAs, which are frequently used to facilitate store closures…

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Today’s news in brief-10/3/25

WH Smith is nearing a decision on the sale of its high street business, with two bidders, Alteri Investors and Modello Capital, remaining in the race. The retailer, which has seen its Travel business outperform high street outlets, confirmed in January it was exploring strategic options, including a potential sale.…

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Two bidders remain in running for WH Smith high street arm

Only two firms reportedly remain in the running to acquire WH Smith’s high street business, with a possible decision coming sometime this spring, according to Sky News.  The news outlet revealed that Alteri Investors, which owns Bensons for Beds, and the Hobbycraft and The Original Factory Shop owner Modello Capital…

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