TG Jones owner calls in advisers to develop restructuring plan

The owner of TG Jones has brought in Teneo to develop a restructuring plan aimed at putting the business on a more sustainable footing.

Modella Capital acquired WH Smith’s high street business, comprising 480 stores, in 2025 and has since been rebranding them under the TG Jones name.

According to The Telegraph, around 80 of those stores are now said to be most at risk following a period of tough trading.

The newspaper has also reported that Modella executives have privately conceded that the firm underestimated the impact of dropping the WH Smith name under the terms of the buyout.

Stores yet to be rebranded are understood to have fared better than those already trading as TG Jones.

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