This decision, say the shareholders, is a result of the continuation of structural decline of the magazine market and the effect on the ongoing sustainability of the company.
The closure will take effect later this year. Existing customers of WWMD, where possible, will be offered a continuation of supply through the parent companies of WWMD.
WWMD Ltd is a 50/50 joint venture between Smiths News Trading Limited (a division of Connect Group PLC) and Menzies Distribution Ltd (a division of John Menzies PLC).
Tom Rodger, Newspaper & Magazine Account Director, Smiths News said, “The proposal to close the business is a very difficult one. WWMD have serviced the specialist retail market very successfully. However, it has become clear that that WWMD is no longer a sutainable business. We are keen to maintain services where possible and will be offering WWMDs customers a seamless transfer back into our parent companies if they so choose.”
