WH Smith

WH Smith, a UK retailer with a history spanning over 200 years, is currently newsworthy due to a formal investigation by the UK's financial watchdog into a significant accounting error related to its US business. This error led to nearly £600 million being wiped off its stock market value. The company is attempting to recover up to £7 million in bonuses from former executives in response. Separately, Modella Capital, a private equity firm that recently acquired WH Smith's high street arm (renamed TG Jones), is facing financial difficulties with its other retail holdings, The Original Factory Shop and Claire's. Both are nearing collapse, potentially putting 2,550 jobs at risk. This situation highlights the challenging retail environment in the UK and the pressures faced by companies operating on the high street.