The potential sale of WHSmith's entire high street operation comes as Sainsbury's announced 3,000 job cuts, Morrisons revealed plans to slash over 200 positions, and major banks confirmed 169 branch closures across NatWest, Halifax, Lloyds and Bank of Scotland for 2025.

The British Independent Retailers Association (Bira), which works with over 6,000 independent businesses of all sizes across the UK, believes this latest development signals a critical point for UK high streets.

Andrew Goodacre, CEO of Bira said: "The news about WHSmith potentially selling all their high street stores is particularly concerning as it follows a stream of other negative announcements affecting our town centres. Job losses at Sainsbury's and Morrisons, combined with another wave of bank closures, creates a perfect storm for many high streets across the UK. WHSmith has been a cornerstone of British retail for over two centuries, and their potential exit from the high street represents a significant shift in the retail landscape. Many WHSmith branches also house Post Office counters, so their closure would create yet another serious gap in essential high street services for local communities.

"These closures and job losses will inevitably impact footfall in town centres, affecting independent retailers who rely on these anchor stores and banks to drive customer traffic. We need urgent government intervention to support our high streets before we see even more closures and job losses," he added.

WHSmith's decision reflects the growing challenges faced by traditional retailers, with the company's travel retail business now accounting for approximately three-quarters of group revenue and 85% of trading profit.