The newsagent admitted there are sales talks in progress which also puts the jobs of 5,000 members of staff under threat.
It is only planning to sell the stores on the high street and not in other places including train stations, airports and hospitals.
While sales of magazines, newspapers and books among stationary and birthday cards have dwindled as customers opt to shop with online alternatives, it has become a popular option for travellers.
The firm’s stores in airports and train stations now represent a huge percentage of its £73m profit recorded last year, WHSmith said in a statement.
It read: “WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the Group, including a possible sale. Over the past decade, WH Smith has become a focused global travel retailer.
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“The Group’s Travel business has over 1,200 stores across 32 countries, and three-quarters of the Group’s revenue and 85% of its trading profit comes from the Travel business.
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate.”
Follows fate of high street stalwarts
The potential closures come after the Post Office – which partnered with the newsagents in over 200 stores – announced closures of its own in November.
Over the next five years there could be up to 115 branch closures and coupled with the shutters coming down on WH Smith stores, means access to posting services will be heavily reduced for customers who rely on their high street options.
As well as Post Office and WH Smiths, UK high streets have seen The Body Shop and Wilko make hundreds of closures of its stores, although Wilko was able to keep six open following a rescue deal.
On Monday (27 January), Sky News reported that Modella Capital, which owns the arts and crafts retail chain Hobbycraft is interested in purchasing the WH Smith stores.