Up to 150 former WHSmith high street stores to close
Up to 150 former WHSmith high street stores to close
Up to 150 former WHSmith high – Modella Capital has initiated a restructuring strategy that could result in the closure of up to 150 stores from its former WHSmith high street network. This move is part of a broader effort to reposition the brand, which now operates under the TGJones name, following its acquisition by the private equity firm last year. The decision has sparked concern among employees and local communities, with hundreds of jobs potentially affected by the changes.
The transformation of WHSmith’s high street presence began in earnest when Modella Capital acquired the chain in March 2025, shifting its focus toward travel-focused locations such as airports and stations. The rebranding to TGJones marked a significant shift in strategy, aiming to align the stores with evolving consumer trends. However, this transition has not been without its challenges, as the company now faces the difficult task of trimming its footprint to ensure long-term viability.
“We understand the uncertainty this will create, and we are committed to supporting our colleagues as much as possible,” said a Modella Capital representative. The spokesperson emphasized that the closures are an “essential part” of the company’s broader turnaround plan, which seeks to streamline operations and safeguard the core of its store estate.
The firm has attributed the closures to a combination of external pressures and internal adjustments. According to Modella Capital, the decision was made after a thorough evaluation of market conditions, which have grown increasingly tough for traditional retailers. The spokesperson highlighted that the “forced” rebranding to TGJones, while intended to revitalize the business, may have temporarily weakened public recognition of the brand. This, coupled with rising operational expenses driven by “government policy” and recent “geopolitical events,” has contributed to the need for cost-cutting measures.
Modella Capital’s restructuring plan is designed to future-proof the brand by focusing on high-performing locations and optimizing resources. The spokesperson explained that the goal is to maintain a substantial number of stores while creating a more sustainable business model. This approach aims to ensure that the remaining locations can continue to serve customers effectively in the long term. Despite the potential for job losses, the firm has stated that it is working to minimize the impact, with plans to preserve “as many roles as possible.”
While the closures are a necessary step, they come amid a broader trend of retail challenges that have affected multiple sectors. Modella Capital has acknowledged that the retail landscape has become more competitive, with consumers increasingly favoring online shopping and convenience-driven formats. The firm’s spokesperson noted that these difficulties are not unique to TGJones but are shared by many physical stores, reflecting a wider industry struggle.
The restructuring follows Modella Capital’s recent decision to discontinue operations for another brand it acquired—Claire’s—after the chain closed all 154 of its standalone stores in the UK and Ireland last month. This move led to the redundancy of 1,300 staff members, underscoring the financial pressures facing the firm. Claire’s, which Modella Capital purchased in September 2025 following its administration, faced an “alarmingly” low Christmas trading period, prompting the decision to cease trading.
Modella Capital’s actions highlight the challenges of managing a diverse portfolio of brands. The firm, which also owns Hobbycraft, has demonstrated a willingness to adapt its strategies in response to market demands. The sale of WHSmith’s high street business in March 2025 was a strategic pivot to concentrate on travel-centric locations, a move that has now been further refined through the TGJones rebranding.
Industry analysts suggest that the closures are part of a larger trend in the retail sector, where businesses are reassessing their physical presence to remain competitive. Modella Capital’s spokesperson acknowledged that the restructuring would have “significant implications” for both employees and the communities they serve. This sentiment reflects the broader impact of such decisions, which often ripple through local economies and affect supply chains.
Despite the challenges, Modella Capital remains optimistic about the future of the TGJones brand. The firm has stated that it will continue to invest in the stores that remain open, with a focus on enhancing customer experience and operational efficiency. This strategy is intended to ensure that the brand not only survives but thrives in a rapidly changing market. The spokesperson also emphasized that the company is committed to transparency, ensuring that stakeholders are kept informed throughout the process.
As the restructuring plan unfolds, the retail sector will be closely watching how Modella Capital navigates this phase of transformation. The closure of up to 150 stores represents a critical juncture for the brand, as it seeks to redefine its identity and position itself for long-term success. While the initial impact may be felt by those directly affected, the firm believes the changes will ultimately strengthen the business and its ability to meet consumer needs in a more focused manner.