TGJones closures: Up 150 former WH Smiths branches could shut as restructuring plans put hundreds of jobs at risk

Up to 150 high street stores - formerly WH Smiths branches - could be shut after being rebranded as TGJones outlets. The chain, rebranded after Modella Capital took over 480 WH Smiths stores last year, has announced closures due to "highly challenging trading conditions" - including saying the decision was a "direct result of government policy and recent geopolitical events".

It is understood hundreds of jobs at TGJones are at risk as part of the restructuring plans, with a spokesperson saying the decision to restructure the company “had not been taken lightly”. “While we continue to believe in the strength of the core business, TGJones has experienced highly challenging trading conditions over the past year, along with many other brick-and-mortar retailers," they went on.

“Weak consumer spending and cost-of-living pressures, combined with rising operating costs as a direct result of government policy and recent geopolitical events, have meant that the company as a whole has remained loss-making. The forced name change from WH Smith has also negatively impacted consumer awareness, despite the fact that the proposition has improved.”

They added: “The survival of this iconic 234-year-old business is our imperative. No decisions have yet been taken on how this will impact roles, but we will aim to preserve as many jobs as possible. Any potential store closures or role reductions will be subject to appropriate consultation, and we are committed to engaging openly and constructively with colleagues and their representatives.

“We want to be clear, however, that the plan may result in the closure of some stores and the loss of some roles. We recognise the impact this uncertainty will have on colleagues, their families and the communities we serve.”