ABSTRACT
A quiet revolution has taken place on the British high street in the 1990s, and a process of company and people buy their newspapers, cigarettes, books and music. It is the story of WH Smith (WHS) and John Menzies. These are old-established firms whose market has crumbled underneath them in the revolution in the distribution channels for their traditional prod- ucts. They have pursued different approaches to companies with differentiated capabilities can survive and rebuild after near catastrophe.
