WH Smith, a stalwart of British retailing for more than 200 years, is in talks to sell its high street business.

Its 500 stores, employing about 5,000 people. have been a familiar source of stationery, books, greetings cards, newspapers and magazines for generations of shoppers.

It has hired bankers at Greenhill to explore “potential strategic options for this profitable and cash generative part of the group, including a possible sale”.

The company was founded in 1792 by Henry Walton Smith and his wife Anna, operating as a news vendor. Over the past decade, it has become “a focused global travel retailer,” with more than 1,200 stores across 32 countries.

This side of the business, operating from airports, train stations and hospitals, now accounts for more than 75% of sales and 85% of its profit.

In a statement, the company said there was “no certainty that any agreement will be reached”, adding that it would provide updates on the possible sale. The potential buyer was not disclosed.

The entire WH Smith group was valued at £1.5bn at the close of business on the London Stock Exchange on Friday.

However, in recent years its popularity has waned and in a 2019 Which? survey it was ranked the lowest, with shoppers describing it as “cramped and messy”.

Revenue from WH Smith’s high street stores dropped by £17m in 2024 compared with the previous year, though profits were unchanged at £32m.

Catherine Shuttleworth, a consumer retail analyst at Savvy Marketing, said WH Smith had become a victim of the shift to online consumption of written material.

“Most of us read our news online, not in magazines and newspapers. We download books and send birthday cards through online operators,” she said.