TG Jones

TG Jones is the rebranded name for a chain of former WH Smith high street stores, now owned by the investment company Modella Capital. Modella Capital acquired 480 stores last year for £76 million. The company is currently newsworthy due to a significant restructuring plan that threatens the closure of dozens of these stores, potentially impacting thousands of jobs. Modella Capital has attributed these planned closures to weak consumer spending. Furthermore, it has been revealed that Modella Capital is charging the TG Jones retail operation millions of pounds in licence fees for the use of the brand name, a name described as 'widely derided'. The current relevance lies in the potential widespread impact on high street retail and employment, as well as questions surrounding the financial strategy of the new owner.