Up to 150 former WHSmith high street stores to close
Summary
Modella Capital, the owner of 480 former WHSmith High Street bookshops now called TGJones, plans to close up to 150 of these stores. This decision is part of a restructuring effort due to tough retail conditions and rising costs, with many jobs possibly affected.Key Facts
- Up to 150 of the 480 TGJones stores will close in a restructuring plan.
- Modella Capital bought the WHSmith High Street stores last year and renamed them TGJones.
- The company says the store closures are necessary due to difficult trading conditions and higher operating costs.
- The forced name change from WHSmith to TGJones lowered customer recognition, affecting sales.
- Rising costs are partly blamed on government policies and geopolitical events.
- Modella Capital aims to keep as many jobs as possible but acknowledges some roles will be lost.
- WHSmith sold its High Street bookshops in March 2025 to focus on travel-location stores like airports.
- Modella Capital also owns other retail brands, including Hobbycraft, but recently closed all Claire's stores in the UK, making 1,300 people redundant.
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