- Retailer has partnership with Post Office that offers services in nearly 200 shops
- The two businesses have been working together since 2006
- Future of these branches has been thrown into doubt
Hundreds of Post Office branches could be at risk after WH Smith confirmed plans to sell off its High Street stores.
The retailer, which opened more than 230 years ago, has a partnership with the Post Office that offers services in nearly 200 of its shops. The two businesses have been working together since 2006.
But the future of these branches has been thrown into doubt after WH Smith said at the weekend it was in talks to sell its High Street stores and focus on shops in transport hubs like train stations and airports.
The company’s share price is also expected to be sharply in focus today as the High Street arm has long been considered to have been holding back its more lucrative travel shop operation.
A Post Office spokesman said yesterday: ‘We are aware of reports regarding WH Smith and are in contact with them to understand more about their plans for their High Street stores. We will remain in contact with them after their update to the market.’
The Government-owned group added it would await a statement from the retailer to the market today for any clarity on the status of the partnership.
Concerns: WH Smith said it was in talks to sell its High Street stores and focus on shops in transport hubs like train stations and airports
WH Smith’s decision is likely to fuel concerns about the state of the High Street after retailers warned a tax raid by the Chancellor in her October Budget would force them to close stores, raise prices and cut jobs.
The measures include hikes in employer National Insurance contributions as well as a rise to the minimum wage and reduced relief from business rates, a levy charged on the value of commercial properties.
Last week, the family behind cookware seller Lakeland announced they had put the business up for sale as cost pressures mounted following Rachel Reeves’s Budget, putting 1,000 jobs at risk.
Supermarket chain Sainsbury’s also unveiled plans to slash 3,000 jobs after its boss warned about the impact of Labour’s tax raid.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
