HIGH COURT APPROVES WH SMITH RESTRUCTURE; 150 STORES TO CLOSE

The High Court has approved a restructuring plan for WH Smith that will result in the closure of up to 150 stores. The books and paperclips retailer operates 450 stores and employs approximately 5,000 staff. The restructure is expected to affect thousands of jobs, though the exact number of redundancies has not been specified. The retailer was acquired by private equity firm Morgan Stanley Infrastructure Partners.

The restructuring plan involves writing off debts owed to suppliers and reducing rent payments for many landlords. These measures form part of a broader financial reorganisation designed to stabilise the business. The scheme requires court approval, which has now been granted. The closure of up to 150 stores represents approximately one-third of WH Smith's current store estate.

The restructure will reshape WH Smith's presence on the high street and in shopping centres across Britain. No confirmed timeline for the store closures has been announced. Further details regarding which stores will close and when redundancies will take effect are expected to follow. The company has not yet published a statement outlining its strategy for the affected locations and workforce.