Alteri and Modella Capital are the only two bidders left for WHSmith’s high street retail arm, according to a Sky News report.

The two investment firms are both experienced in buying up retailers. Alteri, owner of Bensons for Beds, previously controlled fashion brand Missguided. Modella, the recent buyer of The Original Factory Shop, also owns Hobbycraft.

HMV owner Doug Putman, who had previously been reported as in the running for WHSmith’s 500-plus high street stores, is no longer talking to the bankers at Greenhill running the sale process, said the report.

The expectation is that a deal is being targeted for April. The retailer is due to announce its interim results on April 16.

Reports emerged in January that WHSmith was looking to offload its high street business, which has been trading since 1792.

Separate reports have suggested that any sale may not include rights to the name of the retailer.

Like-for-like sales at WHSmith’s high street arm fell by 3% in the 21 weeks up to January 5, 2025, compared to the year before. Its travel unit, which operates over 1,200 stores across 32 countries, grew by 6% over the same period.

The travel arm of its business now delivers 75% of revenue and 85% of trading profit for the brand.

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