Up to 150 former WHSmith high street stores face closure

Up to 150 former WHSmith high street shops could close under a TGJones restructuring plan, putting hundreds of jobs at risk.

Up to 150 former WHSmith high street stores are set to close under a restructuring plan launched by their owner, Modella Capital, putting hundreds of jobs at risk.

The affected shops are part of a 480-store estate that WHSmith sold last year to the private equity firm. The stores were later rebranded as TGJones because the WHSmith name was not included in the £40 million sale.

Modella Capital told the BBC the plan was an “essential part” of its turnaround effort. A spokesperson said the decision had “not been taken lightly,” but pointed to tough conditions for physical retailers over the past year.

“While we continue to believe in the strength of the core business, TGJones has experienced highly challenging trading conditions over the past year, along with many other brick-and-mortar retailers,” the spokesperson said.

The firm said the restructuring is intended to protect the main part of the store estate and create a more sustainable business. It also cited the impact of the name change on brand awareness, rising operating costs “as a direct result of government policy” and recent “geopolitical events.”

Modella Capital said no decisions have yet been made on how the closures would affect staff, and said it wants to preserve “as many jobs as possible.” But the company acknowledged the plan could lead to both store closures and job losses.

“We recognise the impact this uncertainty will have on colleagues, their families and the communities we serve,” the spokesperson said.

WHSmith agreed to sell its high street business in March 2025 as it shifted its focus to travel retail sites such as airports and railway stations. The restructuring now leaves a substantial part of the rebranded TGJones chain facing an uncertain future less than a year after the sale.

The move also follows trouble at another Modella Capital-backed retailer. Claire’s stopped trading in the UK and Ireland last month, closing 154 standalone stores and making 1,300 staff redundant after Modella placed the jewellery and accessories chain into administration.

Further details on which TGJones stores will close, and how many jobs will ultimately be lost, have not yet been confirmed.