Modella Capital, the private equity firm that owns the former WHSmith high-street bookshop and newsagent chain now branded as TG Jones, is reported to be preparing a major restructuring that could result in the closure of up to 100 stores. Both outlets say the potential closures would put hundreds of jobs at risk. The changes are linked to Modella Capital’s control of the business following its acquisition of WHSmith’s high-street estate last year and subsequent rebranding to TG Jones. The reports frame the move as part of a restructuring plan rather than a confirmed closure, indicating that the number of store sites affected could vary up to a maximum figure. If implemented, the store closures would represent a significant reduction in the chain’s retail footprint, with associated impacts for staff and local services where stores operate. Further details of the restructuring, including timing and which specific stores might be affected, are not provided in the reports summarized here.
Modella Capital considers closing up to 100 TG Jones stores
Modella Capital, the private equity firm that owns the former WHSmith high-street bookshop and newsagent chain now branded as TG Jones, is reported to be preparing a major restructuring that could res...
- Modella Capital is the owner of TG Jones, the former WHSmith high-street business.
- Reports say Modella Capital is preparing a restructuring plan.
- The plan could lead to closure of up to 100 TG Jones stores.
- The potential closures put hundreds of jobs at risk.
- TG Jones was acquired and rebranded after Modella Capital bought WHSmith’s high-street bookshop and newsagent estate last year.
TG Jones owner Modella Capital is reportedly preparing a major restructuring of the former WHSmith high street business, which could lead to the closure of up to 100 stores. The private equity firm, which acquired WHSmith’s high street bookshop and newsagent estate last year and rebranded it as TG Jones, is understood to be drawing...
3 months agoHundreds of jobs at risk as TG Jones — the former WHSmith high street chain — could close up to 100 stores in a major restructuring deal.
3 months ago
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