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The Latest Breaking News from TG Jones

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

Why up to 150 former WH Smith stores are being threatened by closure

IN FULL

The Independent 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

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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

Up to 150 former WH Smith stores to close as high court approves restructure

Restructuring plan involves writing off debts to suppliers and cutting rent for many landlords

The Guardian - UK

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

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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

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

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

I warned that putting post offices into WH Smith branches would put them at risk

Letter: Liz McInnes says her fears about the move back in 2019 are coming true as towns such as Middleton will lose access to postal services with TG Jones closing

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

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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 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

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

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

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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

Evening Standard

What is TG Jones and why is WH Smith changing its name?

WH Smith’s name will remain the same at airport and train station branches

The Independent UK

WH Smith changes name – and shoppers think it’s terrible

Brits have hit out at the ‘entirely made up’ new moniker

The Independent UK

WH Smith high street shops to become TG Jones after £76m sale

WH Smith to disappear from the high street as all shops sold in £76m deal

Evening Standard

WH Smith high street stores to be rebranded TG Jones after £76 million sale

WH Smith name will live on at airport and train station branches

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