THE WH Smith shop in the Old George Mall in Salisbury is set to operate under a new name.

The iconic chain has been sold to the owner of Hobbycraft, Modella Capital, which also owns The Original Factory Shop.

Under the terms of the new deal, the retailer will be effectively erased from UK high streets, as it will be rebranded to TGJones – but WH Smith will retain its brand for its travel shops.

The sale will allow the WH Smith business to fully focus on its retail travel arm, with the company operating around 1,200 stores at airports and railway stations in 32 countries across the world.

Carl Cowling, WH Smith chief executive, said: “As we continue to deliver on our strategic ambition to become the leading global travel retailer, this is a pivotal moment for WHSmith as we become a business exclusively focused on travel.

READ MORE: Police hunt man after two hurt in Salisbury “targeted attack”

READ MORE: End of an era for Dust Hole pub in Salisbury

“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.

“As we look forward as a simplified, travel-focused group, I am excited about the group’s future prospects.

“With a clear strategy, a strong balance sheet, and operations in high-growth and attractive markets, we are well-positioned to generate substantial growth and value for all stakeholders.”

Modella will reportedly take on the same products and services – including Post Office work.