TG Jones to close 150 UK bookstores after WH Smith high street sale

Corporate Action

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Summary · why it matters

TG Jones, the high street bookseller formerly part of WH Smith, will close 150 of its 480 UK stores throughout the rest of 2026 after a London court approved a restructuring plan. The closures follow the March 2025 sale of WH Smith’s high street business to private equity firm Modella Capital for £10 million, which rebranded those locations as TG Jones while WH Smith retained its travel hub stores. Modella said the large-bookstore model in high-rent areas was 'almost completely broken' in 2026. Liquidation sales have begun in cities including Bath, Swindon, Uckfield, Redcar and Market Harborough, with at least 5,000 workers estimated to be affected.

WH Smith PLC ▼

Impact on stocks 1

Consumer Discretionary▼ · 1 stocks

▼ NegativeDemandrelevance

WH Smith sold its high street business, which is now closing 150 stores, indicating weak demand for its physical retail model.

Off-coverage companies 2

TGJonesPrivate▼ Negative

Demandrelevance

TG Jones is closing 150 stores due to the 'almost completely broken' large-bookstore model in high-rent areas, indicating weak customer demand.

Modella CapitalPrivate▼ Negative

Capitalrelevance

Modella Capital's investment in TG Jones is facing store closures and restructuring, reflecting a poor return on the £10 million acquisition.