Modella Capital closing 8 TG Jones stores formerly WH Smith
TG Jones (the chain formerly known as WH Smith) is facing a tough shake-up.
Parent company Modella Capital just announced it is closing eight stores right away, and says up to 100 more could shut if landlords don't agree to pause rent payments.
With fewer people shopping and costs rising, they are also asking for big rent cuts at other locations, meaning thousands of jobs could be on the line.
Modella targets 350 TG Jones stores
Modella wants to slim TG Jones down to 350 stores by mid-2026, after a rough year that already saw major job losses at its other brands.
Even though TG Jones is still losing money, Modella said it would invest £35 million to keep the core business afloat.
The rebrand from WH Smith to TG Jones last year did not help: consumer awareness dropped, while WH Smith's travel shops (now separate) are doing fine.
The hope now is that these changes can save as many jobs as possible during a tough retail climate.