British retailer WH Smith is in talks to sell its high street arm, the business has said.

In a statement on Saturday the firm said that it was “exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale”.

It went on to say that over the past decade, the business had become “a focused global travel retailer,” with more than 1,200 stores across 32 countries.

The first of its more than 500 stores opened 230 years ago.

The travel retail business arm of WH Smith which operates from airports, train stations and hospitals, now accounts for more than 85% of its profit, with the high street business making up the rest.

The statement added: “There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”