Thousands of WH Smith workers face uncertainty as private equity suitors eye a deal to take control of the retailer’s shops.
It comes after the business confirmed over the weekend that it has held talks over potentially selling its 500-strong store business.
The company said it is assessing options for the retail division as it seeks to focus on its larger travel operation.
It is understood private equity groups Hilco and Alteri are among parties to raise interest over a possible takeover move for the business, after WH Smith launched the process late last year.
Both Hilco and Alteri have experience in retail as turnaround specialists.
However, this may raise concerns among some workers over what a private equity takeover deal would mean for the future of the WH Smith estate and roughly 5,000 workers.
The Irish arm of retailer WH Smith operates mainly an airport-based business.
The bulk of the retailer’s stores are located at Dublin Airport where it has six outlets in terminal one and three in terminal two. The retailer also has three outlets at Shannon Airport and two at Cork airport while it also has a store at Arnotts Dublin.
It is understood that WH Smith plans to retain its name for its travel business and could therefore strike a sale deal which will not include the use of the brand on the stores or it could involve a licensing process.
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This is expected to be part of the negotiation process for prospective buyers.
Shares in WH Smith lifted higher on Monday as investors prepare for a potential cash windfall from a sale.
Hilco declined to comment. Alteri has been contacted for comment.
Sourse: breakingnews.ie
