TG Jones Restructuring May Close Up to 80 Stores

Modella Capital, the owner of TG Jones, the rebranded high street chain formerly part of WH Smith, has enlisted restructuring advisers to develop a turnaround plan that could place around 80 of its more than 450 stores at risk of closure. The move, reported amid ongoing economic challenges for UK retailers, aims to stabilize the business less than a year after Modella's acquisition, with no final decisions yet announced.

The advisory firm Teneo is reviewing options for TG Jones, including potential store rationalization in locations showing weaker trading performance. Industry reports indicate that these 80 stores represent the most vulnerable sites within the network, though alternatives such as financial support from former parent company WH Smith are also under consideration. A spokesperson for Modella Capital stated, "The management of TG Jones is working hard to turn around this important retail business, and they are drawing on the best available advice in doing so. TG Jones management and Modella Capital are committed to building a sustainable future for this important UK business."

Modella acquired the high street operations from WH Smith last year in a deal valued at...