Former Post Office CEO Nick Read Joins Modella Capital as Operating Partner
Nick Read, the former chief executive of the UK's Post Office from 2019 to 2025, has joined investment firm Modella Capital as an operating partner. Known for acquiring struggling retail brands such as TG Jones (formerly WH Smith), Claire’s Accessories, and Original Factory Shop—many of which later faced insolvency or restructuring—Modella is reportedly considering Read for a boardroom role at Flying Tiger Copenhagen, another one of its investments. Read's tenure at the Post Office was marked by controversy over the Horizon IT scandal, where hundreds of postmasters were wrongly convicted. In 2023, he returned part of his £455,000 bonus after public backlash and admitted to receiving it despite ongoing inquiry work. Modella has faced scrutiny for its acquisition strategy as several of its portfolio companies have struggled financially.
Topics: executive appointment Modella Capital Post Office retail acquisitions