- Up to 150 high street stores operating under the TGJones brand are facing closure, potentially putting hundreds of jobs at risk.
- TGJones, which comprises 480 former WH Smith stores acquired by Modella Capital last year, cited "highly challenging trading conditions" over the past 12 months.
- The company attributed the significant restructuring to "weak consumer spending and cost-of-living pressures", alongside rising operating costs influenced by government policy and geopolitical events.
- A spokesperson for TGJones stated that the forced name change from WH Smith also negatively impacted consumer awareness, despite improvements to the proposition.
- While no final decisions have been made on job impacts, the company aims to preserve as many roles as possible, acknowledging the uncertainty for colleagues and communities.
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