TG Jones Restructuring Threatens 80 Stores

Modella Capital, the owner of TG Jones (formerly WHSmith's high street shops), is reportedly seeking a restructuring plan for the retailer. This plan, being drawn up with advisers at Teneo, could put around 80 of TG Jones's more than 450 stores at risk due to weaker trading and a challenging economic backdrop on the UK high street. Modella Capital acquired the high street chain from WHSmith last year for approximately £76 million, rebranding it as TG Jones. This development follows Modella Capital's recent decision to place two other retail brands, Claire s and The Original Factory Shop, into administration, citing a lack of profitability and a difficult high street climate. Options for TG Jones include store closures or seeking financial support from WHSmith, though no final decisions have been made.