TG Jones to Close 150 Stores Amid Restructure

Stationery chain TG Jones has launched closing down sales at several locations, including a branch in Inverness, Scotland, as the company undergoes a wide-scale restructure. Up to 150 stores are at risk of closure due to poor trading performance. Specific shutdown dates have already been established for branches in Swindon on September 14 and Southend-on-Sea on September 26.

The chain previously served as the high street arm of WHSmith before being sold and rebranded as TG Jones in a £76 million attempt to save the business. While WHSmith continues to operate its more profitable travel shop division, TG Jones has struggled to maintain viability.

Modella Capital, the owner of TG Jones, received approval for the restructure on July 1. In addition to the store closures, the plan includes rent reductions ranging from 15 to 75 percent for hundreds of other locations in an effort to stabilize the remaining business.