Permira moots second WHS bid after Christmas

Venture capitalist Permira is mulling a second bid for WHSmith after Christmas, if trading between now and then does not show credible improvement.

Permira's bid fell through last week, when it became impossible to resolve differences over the£200 million hole in pension funds.

On Tuesday, WHS chief Kate Swann unveiled her recovery proposals. She will build on traditional strengths such as books and stationery by focusing on top titles in the two categories. She will also double DVD titles to 1,000 by Christmas and introduce cafes.