{"id":50721,"title":"Modella Seeks Restructuring for Former WH Smith Shops","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2026-03-03T07:48:07+00:00","modified":"2026-03-03T07:48:07+00:00","canonical_url":"https://stockmark.it/modella-seeks-restructuring-for-former-wh-smith-shops/","markdown_url":"https://stockmark.it/modella-seeks-restructuring-for-former-wh-smith-shops.md","json_url":"https://stockmark.it/modella-seeks-restructuring-for-former-wh-smith-shops.json","category":"Jobs and Employment","categories":["Jobs and Employment","Retail"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2026/01/WhatsApp-Image-2026-01-29-at-05.47.49.jpeg?fit=1024%2C624&quality=89&ssl=1","format":"news","language":"en-GB","content":"The owners of WH Smith’s former high street shops have engaged advisers to develop a restructuring plan for the business, less than a year after acquiring it. Modella Capital, a private equity firm, is reportedly collaborating with Teneo on proposals for restructuring, raising concerns about potential job losses and store closures affecting the TG Jones brand.\n\nThis move follows Modella’s £40 million acquisition of the high street stores, which were sold by WH Smith due to the broader challenges facing high streets across the country. The private equity group has a history of acquiring struggling retailers, but the outcomes have varied significantly.\n\nSources indicate that approximately 80 out of 480 TG Jones shops may be at risk if a programme of closures is implemented. This information first appeared in reports from the Telegraph, indicating the precarious situation facing the retailer.\n\nIn a statement, Modella cited several factors impacting its efforts to revitalise the business. These include cost inflation, declining consumer confidence, and adverse government fiscal policies. A spokesperson noted that these challenges place substantial pressure on all retailers.\n\nManagement at TG Jones is determined to establish a sustainable future for the brand, drawing on available expert advice. Options under consideration include seeking financial assistance from WH Smith; however, WH Smith has expressed reservations about the viability of such a request.\n\nAs WH Smith transitions to focus solely on travel retail, it continues to contend with the fallout from last year’s accounting scandal, which resulted in the departure of former chief executive Carl Cowling and an ongoing investigation by the Financial Conduct Authority.\n\nInstitutional shareholders have voiced frustration regarding the sale price of the high street business, which was adjusted downwards by £12 million after the chain’s trading conditions deteriorated."}