Keeping tabs on the TG Jones casualties following WHSmiths High Street purchase by Modella Capital…
This page was last updated on Thursday 17th September 2026
Major British newspaper, comics, magazine and bookseller TG Jones began a major round of store closures in mid 2026, with 150 of its 480 shops expected to close. However, comic and magazine publishers have also begun developing strategies to counter this blow to their high street sales outlets.
TG Jones took over the WH Smith franchise in June 2025. Just a year later, the company said “challenging retail conditions” had left it with an £8m cash shortfall.
Our view is that the stores closing are in part victim to past inept management by former owner WHSmith and partly due to the dubious activities of current owner Modella Capital, whose business practices, while not illegal, surely merit not just contempt but government investigation for their serial damage to the high street.
As of August 2026, it’s estimated TG Jones employs some 4700 staff across over 400 stores, mostly in the UK. It previously warned that the overhaul would put jobs at risk and one third of its high street operation is expected to shutter.
WHSmith sold its High Street operation to Modella Capital, but retained the brand name for its travel stores in airports and rail stations, necessitating a name change choice that was derided by some industry brand experts, and the new owners admitted had caused confusion for customers.
We should note that the loss of TG Jones stores in many towns is not the only issue impacting publishers. Downthetubes reader Paul Faulder noted in this Facebook thread, on the Mighty World of Comics Group, that Morrisons Daily closures are also leaving areas without both a Post Office and something approaching a newsagent.
In August 2026, over 50 post offices across the country were forced to close, when stores run by Morrison’s shut their doors, blaming the closures on rising costs.
TG Jones: The Casualties
This section was last updated on 18th September 2026
This list includes previous some closures that took place before the July 2026 “restructure”.
Links are, mainly, to local news stories. Do note that since we started compiling this information REACH, the owners of many local newspapers, have started to put much of their content behind a subscriber paywall.
The whole building where TG Jones was located was offered at auction earlier this year)
• Ayr
• Bath – closed 1st September 2026
The Post Office was reportedly to move to new premises; however, Judith Patten MBE contacted downthetubes on 3rd September 2026 to tell us that the local MP, councillors and the Council were still attempting to find a new site for a Post Office, “and we, as residents, are told it will take up to six months to set up.
“In the meantime, we are directed to ones quite a distance from the centre of Bath; I have suggested to my MP that she and others in the same boat work together (using your list) to do something (not sure what!) to hold TGJones/their owner to account.”
• Basildon – closing 21st September 2026
• Bridgnorth, Brighton (on London Road)
• Brixton
• Caerphilly – closed 18th July
• Cambridge – closed 14th September 2026
• Cardigan – closing end September 2026
The property was listed for sale but failed to achieve the asking price at auction in August 2026, WHSmith had been in situ since 1926, taking over the property from bookseller Joseph Clougher)
• Clacton – closing 12th January 2027
The site in Pier Avenue has been listed for sale on Rightmove for £1.25m
• Clevedon – closing 26th September 2026
• Coventry (West Orchards Shopping Centre) – closed June 2026
In May 2026, Andy Talbot, senior asset manager at the centre told the BBC not to have a post office in the city centre was “a disaster”. His team was talking to potential franchisees, he added. The Post Office said they knew how important the service was to a community and the vacancy was being advertised.
• Dalkeith
• Deal – closing 19th September 2026
• Dorking, including British Bookshop and Stationers
“We are absoutely devasted and heart broken to announce that TGJones Dorking will be closing,” came an announcement in August 2026 on Facebook, which proceeded to chart its gradual wind down and the occasional unexpected product delivery from head office
“Please support their store as much as possible, please pop in and say hello and offer any comfort you can. Please try not to ask too many questions as unfortunately staff do not know all of the answers.
“We will of course support them as much as we can. It is another blow to our town and our community!”
• Droitwich – closing 31st October 2026
The building on Victoria Street had housed WHSmith since it was built in the late 1920s
• Epping – closing in November 2026
• Exmouth – closing 26th September 2026
An alternate location is being sought for the Post Office
• Frome – closing 30th September 2026
• Greenford, London – closing 26th September 2026
• Helston, Cornwall – closed 16th September 2026
• Heswall, Wirral
On the Wirral, leaving TG Jones in Liverpool, across the Mersey, the nearest store!
• Hinckley – seeking confirmation
• Hove (George Street)
• Hull (Prospect Centre)
• Hythe, Kent – closing 13th October 2026
• Ipswich
• Kenilworth – closing 26th September 2026
• Lancing – closing 26th September 2026
• Maldon
• Malvern – closing 6th October 2026
• Margate
The WH Smith store closed in April 2024 and the freehold of the site was acquired by The Godden Family Trust for £300,000 on 1st October 2024.
• Market Harborough – closed 12th September 2026
• Monmouth – Closed and cleared
• Pinner – Closing 14th October 2026
• Preston – Closing 9th January 2027
• Redcar – closed 5th September 2026
• Ramsgate (Westwood Cross Shopping Centre) – hasn’t said it’s closing, but has an 80% off sale as of September 2026
• Redhill – closed 5th September 2026
• Rustington – closing 23rd September 2026
• Sheffield (Fargate) – closing 9th January 2027
• Southend-on-Sea – closing 26th September 2026
• Stamford
• Stirling
• Stroud
• Swindon – closed 13th September 2026
See BBC News 15th September report here
• Tenby
WHSmiths had operated in Tenby since 1927
• Tiverton
• Truro – closing 6th October 2026
Once considered Cornwall’s flagship WHSmiths store, a new location being sought for its Post Office. Jayne Kirkham, MP for Truro and Falmouth, has raised the matter in Westminster.
• Uckfield – closed 12th September 2026
Uckfield residents described loss of their local post office is “diabolical” and “ridiculous” to the BBC in September 2026, with the branch set to be closed for about six months.
• Watford (Harlequins) – closing 27th January 2027 (there is still a WHSmith branch at Watford Junction)
Local MP Matthew Turmaine told the Watford Observer: “For a town the size of Watford, without what I still call Smith’s, feels almost like a bereavement. It is one of the Harlequin’s staple stores and will be a tremendous loss.
“Loyal staff will lose their jobs and loyal customers will be disappointed at the news of the restructure by its private equity firm owners.”
He added: “Obviously, the Post Office now needs another new home, having already had a nomadic existence since moving from Market Street in the 1990s and I have already written to them asking for details of their plans for its future town centre location.”
• Wells – Closing 19th September 2026
• Windsor
• Worcester Park – closing sale began August 2026
WH Smith had been in Central Road for decades. “It’s a cornerstone bread and butter chain that makes a high street and is a substantial loss for Worcester Park,” noted local resident Richard Johnson on Facebook. “It’s also another large shop unit that I suspect won’t be easy to fill and (like those vacated by Poundland and Starbucks), may remain empty for some time.”
• Wrexham
• York
Saved
This section was last updated on 17th September 2026
TG Jones has confirmed some stores do not face the axe, including Bognor Regis, Bromsgrove, Harrogate and Honiton, although further closures may yet be announced. The company plans to invest £32.4m in its remaining estate, including store refurbishments, new tills and self-checkouts, IT systems, security upgrades and work on its Post Office concessions
• Chepstow: Although it was announced that Chepstow would close it was decided to sell the building with a list price of £206,000, the property offered through Glasgow-based auctioneers Future Property Auctions), a post to the We Love Chepstow Facebook group on 16th September 2026 suggests it has been saved – unlike the nearby Monmouth store (thanks to Kev F Sutherland for this information
Modella Accquisitions: Latest…
This section was last updated on 17th September 2026
TG Jones secured high court permission to lay waste to its operation, sorry, “restructure”, in July 2026, but this didn’t stop Modella from buying Flying Tiger Copenhagen, and eyeing up the purchase of another retailer, Knightsbridge-based Harvey Nichols. (Harvey Nichols was however acquired out of bankruptcy by Frasers).
In August 2026, Completely Retail News suggested Modella might be in the running to buy Poundland, describing it as a “logical buyer” of the retailer, having bought its Polish sister company Dealz several months ago. (The specialist trade journal has documented many of Modella’s acquisitions including Claire’s and Hobbycraft, initially framed as “rescue plans” that soon led to store closures.
The Retail Gazette, also detailing the judgement, noted 6th August that “rescue plan” means TG Jones is expected to operate from a reduced estate of 302 stores under the restructuring. Its business plan forecasts turnover of £238m in the first year, remaining at the same level in year two before rising to £257m in year three.
Previous businesses Modella managers have run into the ground include Tie Rack.
In August, Mr Justice Hildyard, who approved rescue plan, said turnaround plan came with “very considerable” risks in achieving a turnaround. You can read the full judgement here
“This has all the hallmarks of an adventurous equity play,” wrote Mr Justice Hildyard in his judgment, The Guardian reported, adding that the group’s turnaround plans “might strike the sceptic as more in the nature of generic aspirations than concrete grounds for confidence in a successful outcome”.
Post Office Closure Statement
This section was last updated on 17th September 2026
“We fully recognise the challenging trading conditions that TG Jones and many other High Street retailers are facing at the moment, The Post Office said in a statement about impending store closures in June, which we reported here.
“Following the launch of its Restructuring Plan, TG Jones has already confirmed that, regrettably, seven of its stores will close, as will the Post Offices within those stores, around mid-July.
“We know how important our products and services are to the local community. We have already advertised these vacancies, which have generated interest from interested retailers… We are taking the proactive step of advertising the opportunity to express an interest in operating a Post Office branch. This is to ensure that, should a branch need to close, we are in the strongest possible position to minimise disruption to customers by identifying a replacement operator as quickly as possible.”
Publishers Fighting Back
This section was last updated on 17th September 2026
The trade title Better Retailing reported last month that the magazine industry has begun preparing measures to redirect customers to nearby independent retailers where stores close. The title reported postcode-level analysis has already been completed to identify retailers best placed to capture displaced sales.
Publishers will also receive 12 months of EPOS sales data showing the likely impact of individual closures, while consumer leaflets, retailer point-of-sale packs and door drops are being prepared to encourage shoppers to buy magazines from alternative outlets.
“The plans are intended to maintain consumer access to magazines while minimising disruption to publishers and retailers,” Better Retailing noted. “Retailers close to affected TG Jones stores could also be offered additional magazine fixtures to help expand their range and capture displaced sales.
The title reported last week that shops near TGJones closures have won extra magazine sales, thanks to the industry scheme designed to protect customers.
Magazine distributor Frontline is directing affected shoppers to nearby stores, and helping them find their preferred titles.
• TGJones is online at tgjonesonline.co.uk
Related downthetubes Stories
This section was last updated on 17th September 2026
• TG Jones stores closures ahead?
3rd March 2026: Modella Capital, the British private equity firm who bought high street arm of WHSmith just last June, is reported to be planning to close “scores” of shops.
The grim news is likely to dismay publishers still reliant on high street distribution for the majority of their print sales, impacting visibility for their titles, from 2000AD and Commando to SHIFT and Doctor Who Magazine.
• Modella Capital TG Jones store closures ahead
3rd May 2026: Modella Capital, the private equity firm that bought WHSmith’s high-street bookshop and newsagent business last year, rebranding them as TG Jones, is reportedly planning a drastic restructure that would involve the “closure of up to one hundred stores” in order to “stave off bankruptcy”.
• Private equity firm Modella begins restructuring TG Jones, 150 stores reportedly at closure risk
7th May 2026: Victim to the vagaries of private equity investment, eight TG Jones (formerly WHSmith High Street) stores have closed as part of a restructuring plan that could lead perhaps 150 store closures and job losses, as owner Modella Capital battles to turn around the chain.
• More TG Jones stores to close: landlords, publishers impacted
2nd July 2026: MPs are calling on the Secretary of State for Trade to investigate Modella Capital, as concerns grow over the business practices of the private equity investor.
• Store casualties mount as TG Jones closures begin across the UK
2nd August 2026: Major British newspaper, comics, magazine and bookseller TG Jones has begun a major round of store closures, with 150 of its 480 shops expected to close. However, comic and magazine publishers have also begun developing strategies to counter this blow to their high street sales outlets.
Head further downthetubes for…
This section was last updated on 17th September 2026
• TGJones is online at tgjonesonline.co.uk
• The Guardian, 30th April 2026: Why your favourite brands are suddenly failing
Neelam Tailor breaks down how private equity actually works, why it’s grown so quickly, and how it can reshape the businesses you interact with every day.
Low-profile Modella has positioned itself as a key creditor, landlord and brand owner to struggling TG Jones as store closures and job cuts loom
“In a 214-page restructuring dossier circulated to creditors last week, Modella Capital, the buyout house that snapped up the high street arm of WHSmith earlier this year, disclosed that the retailer is sitting on £3.4m of unpaid business rates, a further £4m owed to suppliers and an £8.4m tax bill that HMRC has so far agreed to defer. Add it together and the chain is in the red by the best part of £16m before the lights have so much as flickered.”
Business Matters Amy Ingham also notes the proposals have caused consternation in Westminster. Justin Madders, the former employment minister and a member of the Commons business and trade select committee, accused Modella of operating a “heads I win, tails the taxpayer loses” model.
• The Financial Times: How private equity tangled banks in a web of debt
• Retail Week: Why TGJones’ impending restructuring has the retail property sector worried (Subscription Required)
• House of Lords Library: Private Equity: Role in the UK economy – House of Lords Library
Complex layers of leverage could pose a threat to the global economy.
The role of private equity in the UK economy has grown significantly in recent years. Observers debate whether this has been a positive development or has had a negative impact on businesses and key sectors of the economy. This article, published in 2025, provides an overview of private equity and its role in the UK economy.
• The Spectator: Is private equity secretly running your life?
Hettie O’Brien delivers a broadside against the elusive financial force that owns almost 10 per cent of the UK economy
• Retail Gazette, 5th May 2026: TG Jones owner Modella Capital plots up to 100 store closures | Retail Gazette Modella-related stories
• Sunday 10th May: WH Smith made just £10m from sale of high street shops to Modella
The Sunday Times reports With TG Jones fighting to stave off collapse, documents circulated to creditors reveal WH Smith is unlikely to recoup anything close to the agreed £42 million
• CoStar: The return of the CVA: should retail and F&B landlords start to worry?
23rd June 2026: A High Court challenge to the restructuring of TGJones could be a pivotal moment for the market
Thank You…
Thank you to our readers who have provided information on closed stores on BlueSky and elsewhere, including Richard Bird, Jon Carpenter at Alien Station, Tony Davis, Dave Elliott, Paul Faulder, Mark Humphreys, Ian Golden, Judith Patten MBE, Jonathan Sapseed, and Lew Stringer
- About the Author
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John is the founder of downthetubes, launched in 1998. He is a comics and magazine editor, writer, and Press Officer for the Lakes International Comic Art Festival. He also runs Crucible Comic Press.
Working in British comics publishing since the 1980s, his credits include editor of titles such as Doctor Who Magazine and Overkill for Marvel UK, Babylon 5 Magazine, Star Trek Magazine, and its successor, Star Trek Explorer, and more. He also edited the comics anthology STRIP Magazine and edited several audio comics for ROK Comics; and has edited several comic collections and graphic novels, including volumes of “Charley’s War” and “Dan Dare”, and Hancock: The Lad Himself, by Stephen Walsh and Keith Page.
He’s the writer of comics such as Pilgrim: Secrets and Lies for B7 Comics; “Crucible”, a creator-owned project with 2000AD artist Smuzz; and “Death Duty” and “Skow Dogs”, with Dave Hailwood.