Modella Capital to Close Up to 150 TGJones Stores in Restructuring

Up to 150 of the 480 High Street stores once part of WHSmith will close under a restructuring plan by their owner, Modella Capital.

Modella Capital bought the WHSmith High Street bookshops last year and rebranded them as TGJones. The plan puts hundreds of jobs at risk, though a company spokesperson told the BBC it forms an essential part of the turnaround strategy.

The spokesperson said the decision was not taken lightly but pointed to challenging retail conditions. "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.

Modella Capital partly blamed the forced name change for hurting brand awareness. It also cited rising operating costs from government policy and recent geopolitical events.

"The restructuring plan is designed to protect the substantial core of the store estate and create a stronger, more sustainable business that can continue to serve customers for years to come," the firm said.

No final decisions have been made on job impacts, and Modella Capital aims to preserve as many roles as possible. "We want to be clear, however, that the plan may result in the closure of some stores and the loss of some roles," the spokesperson added.

"We recognise the impact this uncertainty will have on colleagues, their families and the communities we serve."

WHSmith sold its high street business in March 2025 to focus on travel locations such as airports and stations. The £40 million deal did not include the WHSmith brand.

The TGJones changes follow the closure of another Modella Capital brand in the UK and Northern Ireland.