High Street Retailer WHSmith Plans Closure of 150 Former Stores After Court Approves Restructuring

A court has sanctioned a sweeping restructuring for WHSmith, enabling the retailer to close as many as 150 stores previously operating under the company's High Street division. This decision follows a period of significant financial pressure on the retail sector.

The approved plan, a Company Voluntary Arrangement (CVA), includes steep rent cuts on most of WHSmith's remaining High Street outlets. This measure is intended to stabilise the company's retail footprint, which has struggled with declining footfall and shifting consumer habits.

While WHSmith's travel retail business, which includes outlets in airports and railway stations, has shown resilience, the traditional High Street segment has faced persistent challenges. The CVA aims to address the viability of these less profitable locations, ensuring the broader financial health of the corporation.