Major UK retailer ‘in talks to sell all of its 500 high street shops’

The brand looks set to disappear from the British high street

One of the most recognisable retail brands in the country, WH Smith could disappear from towns across the country after starting "secret talks" to sell its 500 high street stores, Sky News reports.

WHSmith opened its first branch 233 years ago, and has become a staple of the British high street.

But the retailer is looking to focus on its travel retail business providing travel essentials to people with stores in airports, train stations and hospitals.

Sky News reports that the business has been in talks with buyers for its high street stores for weeks, with bosses set to confirm their intention to sell to the London Stock Exchange on Monday.

The company's high street arm is made up of around 500 stores, which employ some 5,000 people across the country.

The travel retail business comprises 600 shops in the UK.

As this stage it is unclear who the buyers of the high street branches will be.

Whilst profits of WH Smith's high street arm have flatlined, the company has seen success with its stores in airports, train stations and hospitals, where revenue rose 7% to £1.9bn last year.

The travel business now accounts for three-quarters of WH Smith's revenue and 85 per cent of profits.

WHSmith's first store was opened in 1792 by Henry Walton Smith and his wife Anna in Little Grosvenor Street, London.