High Rd stores WH Smith and Mountain Warehouse in financial trouble

High street stationer WH Smith saw its sales drop by 85% year on year in April. Its high street shops did badly enough – revenues dropped by 74%, but the stores they rely on most to bring in the money, those at airports and train stations, did really badly. Their revenue was down 91%.

Could WH Smith go the way of Woolworths? So far its rather anachronistic offering has beaten the odds, shrugging off such brickbats as Which magazine’s consumer survey. For the past two years consumers have voted WH Smith the worst High street store. It is hard to see how it can survive losses this big.

‘Once a high street without a WH Smith seemed unimaginable. Now it seems almost inevitable’  Robert Shrimsley writes in  the FT.

Mountain Warehouse chief executive Mark Neale has said his company is in a “battle for survival.”

Ocado on the other hand have seen sales surged more than 40% over the past two months.

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See also: Owners of the Roebuck go into administration

See also: The High Rd loses another business to the Coronavirus