Modella Capital has launched tg jones administration risk around up to 150 former WHSmith high street stores, with hundreds of jobs at risk across the chain. The plan covers 150 of the 480 High Street stores now branded TGJones, after the business was bought last year and rebranded under its new name.
A Modella Capital spokesperson said the restructuring was an “essential part” of the turnaround plan and had “not been taken lightly.” The company said it aims to preserve “as many jobs as possible,” but also warned that the plan may mean some stores close and some roles go.
Modella Capital and TGJones
Modella Capital told the that TGJones has faced “highly challenging trading conditions over the past year,” adding that the name change was “forced” and damaged public awareness of the brand. The company also blamed higher operating costs “as a direct result of government policy” and recent geopolitical events.
The restructuring is intended 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.” For staff in the affected shops, the practical effect is immediate uncertainty over which branches remain open and how many jobs survive the plan.
WHSmith Sale in March 2025
WHSmith agreed the sale of its high street business in March 2025 and kept the WHSmith brand out of the £40 million deal. The company sold the shops so it could focus on travel locations such as airports and stations, leaving Modella Capital to run the former high street estate under TGJones.
The current plan follows another difficult episode for Modella Capital. Last month, Claire's stopped trading in the UK and Ireland, closed all 154 standalone stores and made 1,300 staff redundant after Modella Capital bought the chain in September 2025 and later placed it into administration itself after an “alarmingly” low Christmas trading period.
Jobs and Store Closures
The TGJones restructuring now brings the closure risk into a much larger estate: up to 150 stores out of 480, with hundreds of jobs at stake. Modella Capital said no decisions had been made on the effect on jobs, but the company acknowledged the plan could lead to both store closures and role losses.
For workers and customers, the next step is the company’s own restructuring process, which will determine which branches remain part of the core estate. The scale of the proposed closures makes TGJones the latest test of whether Modella Capital can stabilize a retail chain after a year of difficult trading.
