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Up to 150 ex-WHSmith High Street stores to close as resue deal approved
Key takeaways
- Modella Capital bought the chain stores last year and they were then rebranded under the name TG Jones.
- WH Smith travel stores, in railway stations and airports, weren't part of the deal and the business kept the rights to the historic brand name.
- But less than a year later, Modella announced a radical restructuring plan blaming "challenging retail conditions".
Why this matters: a developing story that could shape the day's news cycle.
Modella Capital bought the chain stores last year and they were then rebranded under the name TG Jones. There are currently 451 stores employing 4,700 workers.
WH Smith travel stores, in railway stations and airports, weren't part of the deal and the business kept the rights to the historic brand name.
But less than a year later, Modella announced a radical restructuring plan blaming "challenging retail conditions".
Article preview — originally published by BBC News. Full story at the source.
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