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The Latest Breaking News from Modella

Former WH Smith Chain on Brink of Collapse: £8M Shortfall Threatens 4,700 Jobs and 150 Stores

TG Jones, formerly part of WH Smith, narrowly avoided collapse with a court-approved restructuring plan. Learn about the impact on 150 high street stores, 4,700 jobs, and the financial burden on suppliers and landlords.

International Business Times UK

Up to 150 former WH Smith stores threatened by closure after restructuring approved

Lawyers for the retailer admitted the company was facing an £8 million shortfall this week if a judge did not sanction the plans

The Independent UK

Around 150 TG Jones shops at risk of closure after restructuring approved

However, the high street chain formerly known as WH Smith said it will avoid insolvency as a result of the plan.

Evening Standard

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Former WH Smith’s small suppliers to lose at least half of debts in rescue plan

If TG Jones’s aggressive restructuring is voted through, small ‘non-core’ creditors such as greeting card firms will be hit worst

The Guardian - UK

High street favourite Flying Tiger bought by owner of TG Jones

IN FULL

The Independent UK

Flying Tiger bought by TG Jones owner Modella in latest high street takeover

The Danish chain, operating over 1,100 stores across 44 countries, underwent a restructuring last year

The Independent UK

TG Jones owner Modella acquires Flying Tiger in latest high street takeover

Modella said the acquisition marked the next chapter for the Danish retailer which has more than 1,100 shops in 44 countries around the world.

Evening Standard

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Flying Tiger snapped up by Modella Capital amid fears for its future

UK private equity investor with reputation for hard-nosed restructuring says it is backing existing management

The Guardian - UK

Fears of ‘postal deserts’ as owner of former WH Smith stores puts counters under threat

Exclusive: Contract changes mean Post Office outlets inside TG Jones stores would be easier to close, with up to 60 possibly affected

The Guardian - UK

How new owner became all powerful in ‘high stakes’ attempt to revive former WH Smith chain

Low-profile Modella has positioned itself as a key creditor, landlord and brand owner to struggling TG Jones as store closures and job cuts loom

The Guardian - UK

Revealed: owner of former WH Smith stores is charging fee to use fictitious ‘family’ brand

Exclusive: Documents show Modella Capital, which bought the chain last year, is so far owed £2.9m in royalty fees

The Guardian - UK

Up to 150 former WH Smith stores face closure, putting thousands of jobs at risk

Modella Capital, which rebranded shops as TG Jones, unveils radical restructuring plan, including rent holidays

The Guardian - UK

Claire’s immediately shuts all UK stores as fashion chain goes bust

Modella said it had made the ‘tough decision’ to kickstart insolvency proceedings for the businesses after ‘last-ditch’ measures failed

The Independent UK

WH Smith buyer seeks help with dozens of shops at risk of closure

WH Smith sold its high street stores to Modella last year, but held onto its travel shops

The Independent UK

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Evening Standard

TG Jones owner calls in help for possible shop closure plan – reports

Modella Capital is reportedly in talks with Teneo over a plan for the chain, formerly WH Smith’s high street shops.

The Guardian - UK

The Original Factory Shop calls in administrators, putting 1,200 jobs at risk

Homeware chain will continue to trade on high streets while administrators ‘assess options’ for business

The Guardian - UK

What is Modella Capital? Firm in spotlight as Claire’s and The Original Factory Shop face collapse

Investment firm that also bought WH Smith’s high street business has reputation for rapid and hard-nosed restructuring

International Business Times UK

High Street Meltdown: 2,550 Jobs Hang in the Balance as Claire's and TOFS Near Collapse

Britain's high streets face renewed strain as Claire's and The Original Factory Shop edge towards administration, placing 2,550 jobs at risk amid weak demand and rising costs.

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The Independent UK

Claire’s and The Original Factory Shop collapse into administration with 2,500 jobs at risk

Owner Modella Capital said it had been a ‘very tough decision’

The Guardian - UK

Claire’s and The Original Factory Shop near collapse, putting 2,550 jobs at risk

Owner Modella starts insolvency proceedings for both chains, saying trading is ‘extremely challenging’

The Guardian - UK

‘I’ll never say I’m popping to Jones’s’: shoppers yet to feel love for WH Smith’s high street replacement

TG Jones took over stores six months ago but consumers have noticed little change or investment

The Guardian - UK

Half of Claire’s stores in UK and Ireland bought in rescue deal but jobs still at risk

Modella Capital warns of ‘inevitable’ closures and job losses at accessories chain while administrators run remaining stores Business live – latest updates

The Independent UK

More than 140 Claire’s Accessories stores saved by new rescue deal

More than 140 stores, however, remain at risk

Evening Standard

Modella to buy 156 Claire’s Accessories stores in rescue deal

However, the future of 145 stores not included in the deal remains uncertain.

The Independent UK

Owner of WH Smith’s high street chain frontrunner to buy Claire’s UK business

Claire’s appointed administrators for its UK and Ireland business last month after filing for bankruptcy in the US.

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