Connect with us

Published

on

WH Smith is in secret talks to sell its entire high street business in Britain more than 230 years after it opened its first shop in central London.

Sky News can exclusively reveal that the listed retail group, which has a market capitalisation of almost £1.5bn, has been in negotiations with a number of prospective buyers of the division for several weeks.

WH Smith will confirm the plan to the London Stock Exchange on Monday morning.

The company’s high street arm comprises roughly 500 stores, employing about 5,000 people across the country.

It is currently part of the same group as WH Smith’s faster-growing, more profitable travel retail business which operates from airports, train stations and hospitals.

The travel retail business comprises 600 shops in the UK, roughly half of a global operation numbering about 1,200 travel retail outlets.

Bankers at Greenhill have been appointed to run the sale process for the high street business, with a deal expected in the coming months.

The identities of the likely buyers were unclear on Saturday.

Run by Carl Cowling, chief executive, the disposal of its high street arm and repositioning as a pure-play travel retail company is likely to be welcomed by investors, one analyst said this weekend.

WH Smith’s high street division, which recorded flat operating profit of £32m last year, still largely sells greeting cards, books and stationery, while the travel arm has a wider offering of food and drink, and technology products.

The travel business now accounts for 75% of the company’s revenue, and 85% of profits, reflecting its higher margins.

It is growing particularly quickly in the US market.

The company’s retail business in hospitals is also growing rapidly, with 145 stores in 100 hospitals across the UK, and scope for openings in 200 further sites, it said in its last set of results in November.

News of the potential sale represents a watershed moment in the history of the British high street.

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

The company opened the first ever travel retail store in Euston station in 1848.

Read more on Sky News:
Hostages arrive in Israel after handover in Gaza
Nearly all US aid programmes worldwide frozen after Trump order

There have been questions about the future of WH Smith’s high street division for many years amid carnage elsewhere in the sector, with the likes of BHS, Debenhams and Comet all ceasing to trade from physical stores in the last 15 years.

This week, it emerged that roughly 15 WH Smith shops would be closed this year – part of an annual rationalisation of its store estate.

In 2006, the company’s news distribution arm, now known as Smiths News, was demerged into a separate London-listed company.

On Friday, shares in WH Smith closed at 1148p, having declined by about 5% over the last 12 months.

In a statement following Sky News’ report of its plans, WH Smith issued a statement confirming it was “exploring potential strategic options for this profitable and cash generative part of the Group, including a possible sale”.

“Over the past decade, WH Smith has become a focused global travel retailer,” the statement said.

“The Group’s Travel business has over 1,200 stores across 32 countries, and three-quarters of the Group’s revenue and 85% of its trading profit comes from the Travel business.

“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”

Continue Reading

UK

Teen arrested after Kayden Moy dies following ‘disturbance’ at beach in Ayrshire

Published

on

By

Teen arrested after Kayden Moy dies following 'disturbance' at beach in Ayrshire

A teenager has been arrested after a 16-year-old boy died following reports of a “disturbance” at a beach in Ayrshire.

Kayden Moy was found seriously injured by officers at Irvine Beach at around 6.45pm on Saturday.

The teenager, from East Kilbride, South Lanarkshire, was taken to hospital but died in the early hours.

Police Scotland said on Sunday evening that a 17-year-old boy had been arrested and enquires were continuing.

Officers believe the incident may have been filmed and have urged witnesses and anyone with information to come forward.

Kayden Moy. Pic: Facebook
Image:
Kayden. Pic: Facebook

Pic: iStock
Image:
The incident happened at Irvine Beach in Ayrshire, Scotland. File pic: iStock

Detective Chief Inspector Campbell Jackson said: “An extensive investigation is under way to establish the full circumstances surrounding this death.

“Our officers are supporting the boy’s family at this very difficult and heartbreaking time.

“From our investigation so far, we know there were a number of people on the beach around the time of the disturbance.

“We believe several of them were filming at the time and may have footage of what happened.

“I would urge people to review the footage they have and contact police if they think the footage captured could be of significance to our investigation.”

This can be submitted anonymously, the force said.

Read more from Sky News:
Vandals target Luke Littler’s van
UK’s negotiations with EU ‘going to the wire’
End of an era for English football stadium

Superintendent Jim McMillan added: “We understand this death will be of great concern for the local community, but please be assured that we are doing everything we can to identify those involved.

“There will be additional patrols in the area as we carry out our enquiries and anyone with any concerns can approach these officers.”

Continue Reading

UK

Post-Brexit EU reset negotiations ‘going to the wire’, says minister

Published

on

By

Post-Brexit EU reset negotiations 'going to the wire', says minister

Negotiations to reset the UK’s post-Brexit relationship with the EU are going “to the wire”, a Cabinet Office minister has said.

“There is no final deal as yet. We are in the very final hours,” the UK’s lead negotiator Nick Thomas-Symonds told Sky’s Sunday Morning with Trevor Phillips.

On the possibility of a youth mobility scheme with the EU, he insisted “nothing is agreed until everything is”.

“We would be open to a smart, controlled youth mobility scheme,” he said. “But I should set out, we will not return to freedom of movement.”

Politics latest: PM outlines ‘benefits’ for UK from closer EU ties

The government is set to host EU leaders in London on Monday.

Put to the minister that the government could not guarantee there will be a deal by tomorrow afternoon, Mr Thomas-Symonds said: “Nobody can guarantee anything when you have two parties in a negotiation.”

But the minister said he remained “confident” a deal could be reached “that makes our borders more secure, is good for jobs and growth, and brings people’s household bills down”.

“That is what is in our national interest and that’s what we will continue to do over these final hours,” he said.

“We have certainly been taking what I have called a ruthlessly pragmatic approach.”

On agricultural products, food and drink, Mr Thomas-Symonds said supermarkets were crying out for a deal because the status quo “isn’t working”, with “lorries stuck for 16 hours and food rotting” and producers and farmers unable to export goods because of the amount of “red tape”.

Asked how much people could expect to save on shopping as a result of the deal the government was hoping to negotiate, the minister was unable to give a figure.

Read more:
What could a UK-EU reset look like?
Starmer’s stance on immigration criticised

On the issue of fishing, asked if a deal would mean allowing French boats into British waters, the minister said the Brexit deal which reduced EU fishing in UK waters by a quarter over five years comes to an end next year.

He said the objectives now included “an overall deal in the interest of our fishers, easier access to markets to sell our fish and looking after our oceans”.

Turning to borders, the minister was asked if people would be able to move through queues at airports faster.

Again, he could not give a definitive answer, but said it was “certainly something we have been pushing with the EU… we want British people who are going on holiday to be able to go and enjoy their holiday, and not be stuck in queues”.

PM opens door to EU youth mobility scheme

A deal granting the UK access to a major EU defence fund could be on the table, according to reports – and Prime Minister Sir Keir Starmer has appeared to signal a youth mobility deal could be possible, telling The Times that while freedom of movement is a “red line”, youth mobility does not come under this.

The European Commission has proposed opening negotiations with the UK on an agreement to facilitate youth mobility between the EU and the UK. The scheme would allow both UK and EU citizens aged between 18 and 30 years old to stay for up to four years in a country of their choosing.

Earlier this month, Home Secretary Yvette Cooper told Phillips a youth mobility scheme was not the approach the government wanted to take to bring net migration down.

Please use Chrome browser for a more accessible video player

Lack of UK training ‘big driver of net migration’

When this was put to him, Mr Thomas-Symonds insisted any deal on a youth mobility scheme with Europe will have to be “smart” and “controlled” and will be “consistent” with the government’s immigration policy.

Asked what the government had got in return for a youth mobility scheme – now there had been a change in approach – the minister said: “It is about an overall balanced package that works for Britain. The government is 100% behind the objective of getting net migration down.”

Phillips said more than a million young people came to the country between 2004 and 2015. “If there isn’t a cap – that’s what we are talking about,” he said.

The minister insisted such a scheme would be “controlled” – but refused to say whether there would be a cap.

👉 Click here to follow Electoral Dysfunction wherever you get your podcasts 👈

‘It’s going to be a bad deal’

Shadow cabinet office minister Alex Burghart told Phillips an uncapped youth mobility scheme with the EU would lead to “much higher immigration”, adding: “It sounds very much as though it’s going to be a bad deal.”

Asked if the Conservatives would scrap any EU deal, he said: “It depends what the deal is, Trevor. And we still, even at this late stage, we don’t know.

“The government can’t tell us whether everyone will be able to come. They can’t tell us how old the young person is. They can’t tell us what benefits they would get.

“So I think when people hear about a youth mobility scheme, they think about an 18-year-old coming over working at a bar. But actually we may well be looking at a scheme which allows 30-year-olds to come over and have access to the NHS on day one, to claim benefits on day one, to bring their extended families.”

He added: “So there are obviously very considerable disadvantages to the UK if this deal is done in the wrong way.”

Jose Manuel Barroso, former EU Commission president, told Phillips it “makes sense” for a stronger relationship to exist between the European Union and the UK, adding: “We are stronger together.”

He said he understood fishing and youth mobility are the key sticking points for a UK-EU deal.

“Frankly, what is at stake… is much more important than those specific issues,” he said.

Continue Reading

UK

Teenager living in ‘continuous pain’ after surgeon Dr Yaser Jabbar carried out ‘inappropriate’ operations

Published

on

By

Teenager living in 'continuous pain' after surgeon Dr Yaser Jabbar carried out 'inappropriate' operations

A 15-year-old boy who was operated on twice by a now unlicensed Great Ormond Street surgeon is living with “continuous” pain.

Finias Sandu has been told by an independent review the procedures he underwent on both his legs were “unacceptable” and “inappropriate” for his age.

The teenager from Essex was born with a condition that causes curved bones in his legs.

Aged seven, a reconstructive procedure was carried out on Finias’s left leg, lengthening the limb by 3.5cm.

A few years later, the same operation was carried out on his right leg which involved wearing an invasive and heavy metal frame for months.

He has now been told by independent experts these procedures should not have taken place and concerns have been raised over a lack of imaging being taken prior to the operations.

Dr Yasser Jabbar. Pic: Linkedin
Image:
Yaser Jabbar rescinded his UK medical licence last year. Pic: LinkedIn

His doctor at London’s prestigious Great Ormond Street Hospital was former consultant orthopaedic surgeon Yaser Jabbar. Sky News has spoken to others he treated.

Mr Jabbar also did not arrange for updated scans or for relevant X-rays to be conducted ahead of the procedures.

The surgeries have been found to have caused Finias “harm” and left him in constant pain.

“The pain is there every day, every day I’m continuously in pain,” he told Sky News.

“It’s not something really sharp, although it does get to a certain point where it hurts quite a lot, but it’s always there. It just doesn’t leave, it’s a companion to me, just always there.”

Read more:
Girl who had leg amputated suffered harm during surgeon’s care
Child, 11, in wheelchair after surgeon’s operations

Hospital accused of ‘covering up’ concerns about suspended surgeon

Finias Sandu's surgery pictures
Image:
Finias’s surgery pictures

Care of over 700 patients being assessed

Mr Jabbar rescinded his UK medical licence in January last year after working at Great Ormond Street between 2017 and 2022.

The care of his 700-plus patients is being assessed, with some facing corrective surgery, among them Finias.

Finias Sandu in hospital

“Trusting somebody is hard to do, knowing what they have done to me physically and emotionally, you know, it’s just too much to comprehend for me,” he said.

“It wasn’t something just physically, like my leg pain and everything else. It was emotionally, because I put my trust in that specific doctor. My parents and I don’t really understand the more scientific terms, we just went by what he said.”

Finias Sandu in hospital

Doctors refused to treat Finias because of his surgeries

Finias and his family relocated to their native Romania soon after the reconstructive frame was removed from his right leg in the summer of 2021.

The pain worsened and they sought advice from doctors in Romania, who refused to treat Finias because of the impact of his surgeries.

Finias Sandu in hospital

Dozens of families seeking legal claims

His mother Cornelia Sandu is “furious” and feels her trust in the hospital has been shattered. They are now among dozens of families seeking legal claims.

Cyrus Plaza from Hudgell Solicitors is representing the family. He said: “In cases where it has been identified that harm was caused, we want to see Great Ormond Street Hospital agreeing to pay interim payments of compensation for the children, so that if they need therapy or treatment now, they can access it.”

Finias Sandu in hospital

Finias is accessing therapy and mental health support as he prepares for corrective surgery later in the year.

A spokesperson for Great Ormond Street Hospital told Sky News: “We are deeply sorry to Finias and his family, and all the patients and families who have been impacted.

“We want every patient and family who comes to our hospital to feel safe and cared for. We will always discuss concerns families may have and, where they submit claims, we will work to ensure the legal process can be resolved as quickly as possible.”

Finias Sandu with his mother and sister
Image:
Finias with his mother and sister

Service not ‘safe for patients’

Sky News has attempted to contact Mr Jabbar.

An external review into the wider orthopaedic department at the hospital began in September 2022.

It was commissioned after the Royal College of Surgeons warned the hospital’s lower limb reconstruction service was not “safe for patients or adequate to meet demand”.

The investigation is expected to be completed by the end of the year.

Continue Reading

Trending