WHSmith 'in talks' to sell ENTIRE high street business containing 5,000 employees

The company could confirm the plan in a statement to the London Stock Exchange as early as next week, according to Sky News.

WHSmith’s high street arm contains around 500 stores, the first of which began operating over 230 years ago.

It’s currently part of the same group as WHSmith’s travel retail business, which is faster growing and operated in airports, train stations and hospitals.

There are around 600 travel retail shops in the UK, half of the global number which is about 1,200 locations.

Bankers at Greenhill will be running the sale process for the high street business, with a deal expected in the next few months.

The identities of the buyers are currently unknown.

The rebranding as a pure-play travel retail company is likely to be welcomed by investors, an analyst revealed this weekend.

WHSmith’s high street division mainly sells books, stationery and greeting cards while the travel stores also sell food, drink and technology products.

The high street division recorded a flat operating profit of £32million last year.

The travel business however accounts for 75 per cent of the company's revenue and 85 per cent of profits.

The shops are growing fast, particularly in the US, as well as in hospitals across the UK.

The first WHSmith opened in 1792 by Henry Walton Smith and his wife Anna in Little Grosvenor Street, London.

The first ever travel store was opened in Euston Station in 1848.

Last week it became known that around 15 WHSmith stores would be closed this year.

On Friday, shares in WHSmith closed at 1148p, having declined by about 5 per cent over the last 12 months.

There have been speculations about the future of WHSmith’s high street division for many years amid other similar shops like Debenhams and BHS ceasing to trade from physical stores in the last 15 years.