WHSmith has announced that its high street brand has been sold and plans to undergo a rebrand as TGJones.
The branch has been sold for £76m to Modella Capital, the owners of popular high street store, Hobbycraft.
It is currently unclear how this transaction will affect the Sheffield stores, but it has been confirmed that all stores, colleagues and assets will be moved under Modella Capital’s ownership.
A local customer told ShefNews: “I think the name will be the main thing and people won’t associate the new name with WHSmith because it’s been going for so long now, but I don’t think much will change if they’re selling the same things.”
Users on X have also shared their thoughts on the new name, claiming that it ‘sounds like something out of a comedy show’ and is ‘utter madness to use a fake and made up name’ after it was revealed that TGJones was selected to evoke a ‘familiar, family-oriented feel’ and is not a reference to any individual.
WHSmith have said that their brand is not included in the sale and their travel branch of the business will continue under the WHSmith name.
Carl Cowling, Group Chief Executive, said: “As our travel business has grown, our UK high street business has become a much smaller part of the WHSmith Group. This is a pivotal moment for WHSmith as we become a business exclusively focused on travel.”
The group have decided to focus on travel as 75% of its revenue and 85% of its trading profit has come from the travel branch of the business in the last financial year
It is unclear how the rebrand of TGJones will change things, but WHSmith stores in airports, hospitals and train stations will remain unaffected.