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The owner of TG Jones is planning around 100 shop closures under plans for a major overhaul of the struggling business.

The high street chain formerly known as WH Smith is closing on a deal to secure its long-term survival, as reported by news outlets at the weekend.

Private equity firm Modella Capital acquired the company last year, rebranding it as TG Jones.

But trading is understood to have been poor since the start of 2026, prompting the firm to speed up plans for a formal restructuring of the business which would see roughly 100 stores closed, putting many jobs at risk.

Advisers at Teneo and lawyers at Slaughter & May are working on the restructuring plan, which will add TG Jones to the list of retail names taking drastic measures to ensure their survival, Kleinman reported.