Modella Capital to close up to 150 former WHSmith high street stores
Updated
Updated · BBC.com · May 6
Modella Capital to close up to 150 former WHSmith high street stores
15 articles · Updated · BBC.com · May 6
The plan affects TGJones, the rebranded chain of 480 shops bought from WHSmith in a £40m deal last year, with hundreds of jobs at risk.
Modella said no final decisions on job losses had been made and described the closures as essential to a turnaround after weak trading, higher costs and reduced brand awareness.
WHSmith sold the high street business in 2025 to focus on travel outlets, while another Modella-owned chain, Claire's, shut all 154 UK and Northern Ireland stores last month.
Was the disastrous TGJones rebrand a fatal mistake or a convenient excuse for pre-planned store closures?
Modella Capital saved Hobbycraft but shuttered Claire's. What is the secret to surviving its ownership?
With private equity owning more shops, is its 'restructuring' a cure for the high street or the disease?