WH Smith has bought Past Times

Books and stationery chain WH Smith has bought the Past
Times brand for an undisclosed sum. Past Times fell into administration last
year and saw its website and assets acquired by PT Bidco, a vehicle owned by
private equity firm Epic, for £1.8 million. WH Smith, which bought the brand
from Bidco, says it intends to use Past Times in a similar way to the Gadgetshop
brand, which it acquired in 2010. The news follows yesterday’s announcement
that WH Smith’s total total group sales were down 4 percent but pretax profit
was up 5 percent to £69 million. The Telegraph has more on the acquisition.