Legacy Bookstore Chain WH Smith Begins Closing Hundreds of Stores
WH Smith, a British book and newspaper retailer founded in 1792, is closing 150 TG Jones stores across the UK as part of its restructuring plan. The company had previously sold its high street operations to Modella Capital in March 2025 but now faces store closures due to ongoing financial challenges from declining print media consumption and rising commercial rents. The first closures have begun in cities like Bath, Swindon, Uckfield, Redcar, and Market Harborough. Stores are holding liquidation sales with discounts starting at 30%, signaling the end of operations for these locations by year-end. The company emphasized that preserving jobs is a priority but did not confirm how many positions will be lost. Modella Capital had initially aimed to revitalize TG Jones as 'the hub of the high street,' but admitted in 2026 that its model was nearly unviable. This restructuring aims to create a more sustainable business by focusing on core locations, particularly airport and railway stores under the WH Smith brand.
Topics: bookstores brick-and-mortar retail decline restructuring