WHSmith has sold its Stoke-on-Trent store to focus on its lucrative travel retail arm in a £76m deal. 

The chain has announced the sale of its 233-year-old high street businesses to Modella Capital - the firm which owns Hobbycraft.

The deal will include 480 stores nationwide, including the store inside Hanley's Potteries Centre but the store inside the Royal Stoke Hospital will likely remain under the WHSmith brand as the company has not sold its shops in airports, train stations and hospitals.

The town centre stores will eventually have the WHSmith name removed to be replaced with TGJones.

WHSmith has made the move to focus on its branches mainly in hospitals, airports and railway stations which accounts for around 1,200 stores in 32 countries globally and for 85% of group profits.

Carl Cowling, WHSmith chief executive, said: "As our travel business has grown, our UK High Street business has become a much smaller part of the WHSmith Group. 

"High Street is a good business; it is profitable and cash generative with an experienced and high-performing management team. 

"However, given our rapid international growth, now is the right time for a new owner to take the High Street business forward and for the WHSmith leadership team to focus exclusively on our Travel business. 

"I wish the High Street team every success."

All employees and assets will be transferred to Modella through the sale.

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