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Wells TG Jones store future unknown as closures loom

Local News by Laura Linham 34 minutes ago  
The future of the Wells TG Jones store, formerly WH Smith, is unknown after plans emerged to close up to 150 shops across the chain.
The future of the Wells TG Jones store, formerly WH Smith, is unknown after plans emerged to close up to 150 shops across the chain.
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The future of the Wells TG Jones store is unknown after the owner of the former WH Smith high street chain unveiled plans that could see up to 150 shops close.

TG Jones, which replaced the WH Smith name on many high streets, is owned by Modella Capital.

The investment firm bought WH Smith's high street store chain last year and has since rebranded the shops.

The Wells store has not been confirmed to be closing.

No public list has been released confirming whether the Wells TG Jones store is among the shops at risk.

The restructuring plan could affect between 100 and 150 stores nationally.

Eight stores are expected to close immediately, while the company is seeking rent holidays and rent reductions on many more sites.

If landlords do not agree to the proposed terms, further stores could shut.

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TG Jones has blamed weak consumer spending, rising operating costs and the cost of rebranding from WH Smith for its financial difficulties.

The company has said the restructuring is needed to protect the core business and create a more sustainable chain.

For Wells shoppers, the key point is simple: the future of the Wells store remains uncertain.

Until TG Jones or Modella Capital confirms the affected locations, it is not known whether the Wells shop will continue trading long-term.

WH Smith's travel stores, including those in airports and railway stations, are not affected by the restructuring because they were not part of the high street sale.

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