Up to 150 TGJones Stores Face Closure Amid Restructuring

The owners of TGJones have said that up to 150 stores will close as a direct result of government policy and recent geopolitical events. The stores, previously part of the WH Smith business, were rebranded as TGJones after Modella Capital purchased 480 WH Smith stores last year.

The company said the restructuring plans were necessary after 12 months of highly challenging trading conditions for the business and many other brick-and-mortar retailers.

A spokesperson for the business provided a statement to the Press Association on Wednesday. The spokesperson said the decision to restructure had not been taken lightly. "While we continue to believe in the strength of the core business, TGJones has experienced highly challenging trading conditions over the past year, along with many other brick-and-mortar retailers," the statement said.

The statement added that the survival of the 234-year-old business is the company's imperative. No decisions have yet been taken on how the restructuring will affect roles, but the company said it will aim to preserve as many jobs as possible. Hundreds of jobs at TGJones are understood to be at risk.

Any potential store closures or role reductions will be subject to appropriate consultation, and the company said it is committed to engaging openly with colleagues and their representatives. "We want to be clear, however, that the plan may result in the closure of some stores and the loss of some roles," the statement concluded.