I don’t have live access to current news in this moment. Based on recent reporting, TG Jones—formerly WH Smith’s high street arm and owned by Modella Capital—has been outlining a turnaround plan that could involve closing up to about 150 stores and seeking creditor support to avoid administration, with a High Court hearing in late June and a potential administration risk if the plan isn’t approved by July 31. Please note that specifics can change quickly as creditors respond and court proceedings unfold.
If you’d like, I can summarize the latest confirmed developments from reliable outlets and provide a quick status snapshot with key dates and numbers, or set up a brief alert plan to track changes as they happen.
Citations:
- Reports noting a turnaround plan, potential 150 store closures, and administration risk by late July [web results discussing TG Jones administration risk and store closures].
- Coverage of the High Court hearing and creditor approval timelines [web results referencing June 29 hearing and July 31 deadline].
Sources
Retail woe returns to Britain’s major comics and magazine retailer
downthetubes.netModella Capital has launched tg jones administration risk around up to 150 former WHSmith high street stores, with hundreds of jobs at risk across the chain. The plan covers 150 of the 480 High Street stores now branded TGJones, after the business was bought last year and rebranded under its new nam…
www.el-balad.comThe news is likely to shock publishers still reliant on high street distribution for the majority of their print sales.
www.express.co.ukAround 80 TG Jones shops could be shut under cost-saving plans
www.gbnews.comTG Jones faces collapse into administration by the end of July if creditors and the High Court reject a last-ditch restructuring plan. The troubled retailer has warned lenders that time is running out to save the business. The latest National and International News - upday News
www.upday.comThe chain, formerly known as WH Smith's high street business, is planning to shut up to 150 stores if rescue plans are approved.
www.express.co.ukWH Smith sold its high street stores to Modella last year, but held onto its travel shops
www.independent.co.ukThe retailer formerly known as WHSmith faces possible administration if lenders reject a rescue package by July 31
www.gbnews.comThe investment firm which owns TG Jones is reportedly considering the latest exit from its string of retail acquisitions.
www.cityam.comModella Capital, the owner of the chain that was formerly WH Smiths high street shops, has laid out its turnaround plan to the company's creditors.
www.independent.co.uk