Keeping tabs on the TG Jones casualties following WHSmiths High Street purchase by Modella Capital…
This page was last updated on Sunday 11th October 2026
Recent Updates: Added information on home delivery services provided by NewsTeam; and updated and added several closures to our growing list, including Liverpool ONE and more
We also recently reorganised the closure list by county, and we added a statement noting a new High Street Strategy from Kate Dearden MP, Minister of State for the Future of Work, Department of Business, Innovation, Science & Trade; and added information on some further announced store closures, announced for January 2027
• TG Jones closed 19 stores in September 2026
• TG Jones has announced it will close 22 stores in October 2026
• TG Jones has announced it will close at least 4 stores in November 2026
• TG Jones has announced it will close at least 2 stores in December 2026
• TG Jones has announced it will close at least 26 stores from January – March 2027 so far
Background
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.
The Times reported in September 2026 that once the restructuring concludes, the retailer is expected to operate around 300 surviving high street branches alongside its ongoing online retail service.
However, comic and magazine publishers have also begun developing strategies to counter this blow to their high street sales outlets. (See the “No newsagents in your area?” section, below)
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 £8 million 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.
Above: In TG Jones, Lancaster, as of 22nd September 2026, more space had given over to allow for a better display of magazines and comics – some consolation at least, for publishers who have lost multiple sales points as the chain contracts…
That said, as of September 2026, there do seem to be some improvements to surviving stores, with greater space given over to magazines (while still at the back of stores, that move made by WHSmith). However, visible staffing levels remain appear inadequate.
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 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 some of their content behind a subscriber paywall.
No newsagents in your area?
Stewart Dacre works for the Frontline Group, on the distribution side of the magazine industry. His company are looking to support readers to continue to find their favourite titles. They have created a leaflet that gives readers various options.
1) Suggest they look to order at their local independent newsagent.
2) Check the Frontline store finder, detailing where stores in a given area have been supplied with the titles they distribute, including 2000AD, BEANO and Commando: frontline-group.co.uk/store-finder/
3) NewsTeam Group are a UK wide newspaper and magazine delivery company. They provide early morning newspaper deliveries to over 65,000 addresses across the UK. Find out if they deliver in your area by visiting newsteamgroup.co.uk
4) The Mags Direct site offers single issue purchases of titles Frontline distribute: magsdirect.co.uk
5) Look in the title or on the publisher website to investigate subscription opportunities
• TG Jones Store Locator is at tgjonesonline.co.uk/storelocator
Berkshire
• Hungerford – closing “early 2027”
6 – 7 High Street, Hungerford, Berkshire, RG17 0DN
“TG Jones is unfortunately closing its store,” Hungerford Town Council announced in early October 2026. “The actual date for this has not yet been confirmed. As a consequence, the Post Office will also need to close. The closing date for the Post Office has also not been confirmed but we were informed that it is likely to be early 2027. The Post Office remain committed to restoring a replacement branch in the area and have already taken proactive steps to invite expressions of interest and have received a few potential applicants.
“Hungerford Town Council understand the concern that this will raise within the community and will make every available effort to ensure the very best result is achieved for the town and its residents. As soon as we have any further news this will be publicised.”
• Windsor
6 Thames Street, Windsor SL4 1PW
Bristol
• Kings Chase Shopping Centre, Bristol – closing 18th November
16 Kings Chase Shopping Centre, Regent St kingswood, Bristol, BS15 8LP
Buckinghamshire
• Amersham, Buckinghamshire – Closed
48-50 Sycamore Road, Amersham HP6 5DR
• Aylesbury – Closed
Was at: 27-29 High Street, Aylesbury HP20 1SH
The whole building where TG Jones was located was offered at auction earlier this year)
• Beaconsfield
Station Road, 11 The Highway, Beaconsfield HP9 1QD
• Bracknell
10 Princess Sq, Bracknell RG12 1XW
• High Wycombe – closure date unconfirmed
36 High Street, High Wycombe HP11 2AR
downthetubes reader Tim Allman reported closing down sales had gone up in mid September 2026
Cambridgeshire
• Cambridge – closed 14th September 2026
14-15 Market Street, Cambridge CB2 3PE
• Peterborough – Closing 9th January 2027
32 – 36 Bridge Street, Peterborough PE1 1DP
• Wisbech – Closing 9th January 2027
36 Market Place, Wisbech, PE13 1DL
Cornwall
• Helston – closed 16th September 2026
20 Meneage St, Helston TR13 8AB
• Truro – closed 6th October 2026
9, 9A Pydar Street, Truro TR1 2AX
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.
Cheshire
• Congleton – closing 9th January 2027
41 High Street, Congleton,Cheshire, CW12 1AU
• Wrexham – closed 19th September 2026
56 – 58 Hope Street, 56-58 Hope Street, Wrexham, LL11 1BE
Locals have decried the closure and loss of the post office, describing the number of empty shops on the high street “a disgrace”
County Durham
• Darlington – closing 28th November 2026
Cornmill Shopping Centre, 37B Crown Street, Priestgate, Darlington DL1 1LS
Devon
• Exmouth – closed 28th September 2026
19 Chapel St, Exmouth EX8 1HW
An alternate location is being sought for the Post Office
• Tiverton
56 Fore Street, Tiverton, Devon, EX16 6LD
Essex
• Basildon – closed 21st September 2026
29, Town Square, 29 Town Square, Basildon SS14 1BA
• Clacton – closing 12th January 2027
51 Pier Avenue, Clacton On Sea, Essex, CO15 1QQ
The site in Pier Avenue has been listed for sale on Rightmove for £1.25m
• Billericay – unconfirmed October date
54 High Street, Billericay CM12 9BS
• Epping – reported to be closing in November 2026
193 High Street, Epping CM16 4BL
• Maldon – closing 9th October 2026
70a High Street, Maldon CM9 5ET
• Southend-on-Sea – closed 26th September 2026
207 High Street, Southend-on-Sea SS1 1LN
• Wickford – closing 19th October 2026
45-47 High Street, Wickford, SS12 9AE
Gloucestershire
• Stroud – unconfirmed closure date
20 King Street, Stroud, GL5 3DE
• Thornbury – unconfirmed closure date
29 High Street, Thornbury, Bristol, BS35 2AR
Hampshire
• Cosham – closing 9th January 2027
48 High Street, Cosham, Portsmouth, Hampshire, PO6 3AG
• Southampton – closed 22nd September 2026
32-34 Above Bar St, Southampton SO14 7LE
Isle of Wight
• Ryde – closing 9th January 2027
20-21 High Street, Ryde, Isle of Wight, PO33 2HW
This leaves just the TG Jones in Newport on the island.
Hertfordshire
• Bishop’s Stortford – closing 17th October 2026
1 South St, Bishop’s Stortford CM23 3AB
• Rickmansworth– closing 12th October 2026
74 High St, Rickmansworth WD3 1AJ
• Welwyn Garden City – Closing 9th January 2027
30 The Howard Centre, Welwyn Garden City, Hertfordshire, AL8 6HA
Kent
• Deal – closed 19th September 2026
• Dorking, including British Bookshop and Stationers
129-135 High Street, Dorking RH4 1AL
“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!”
British Bookstores, mainly based in the South East, is a brand bought by WHSmiths many years ago that was transferred to TG Jones, but kept its branding. It mainly sold books and had a much better stationery section than TG Jones. “I’m not sure why the buyers of WHSmiths didn’t use that branding for all their stores, rather than make TG Jones up,” notes bemused downthetubes reader Nick Williams.
• Dover – closing January 2027, final date not announced
45-46 Biggin Street, Dover, Kent, CT16 1DB
• Hythe – closing 13th October 2026
103 High Street, Hythe CT21 5JH
• Margate – Closed as WHSmith on 20th April 2024
Was At: 37 Margate Road, Westwood, Broadstairs, Ramsgate CT10 2BF
The WHSmith 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.
• Ramsgate – closed as WHSmith on 20th April 2024
Westwood Cross Shopping Centre, Margate Road, Broadstairs, Kent CT10 2BF
Lancashire
• Ormskirk – closing 21st October 2026
13 Moor Street, Ormskirk, Lancashire, L39 2AA
• Preston – Closing 9th January 2027
105 – 107 Fishergate, St George Centre Preston,Lancashire, PR1 2AE
Leicestershire
• Hinckley – 17th March 2027
29-31 Castle Street, Hinckley LE10 1DA
• Leicester
39 Gallowtree Gate, Leicester LE1 5GD
• Market Harborough – closed 12th September 2026
13 High Street, Market Harborough LE16 7NJ
• Melton Mowbray – closing 10th October 2026
29 Market Pacel, Melton Mowbray LE13 1XD
Lincolnshire
• Stamford
15 High Street, Stamford PE9 2AL
Merseyside
• Heswall, Wirral
139 -141 Telegraph Road, Heswall
On the Wirral, leaving TG Jones in Liverpool, across the Mersey, the nearest store!
• Liverpool – closing 25th January 2027
1–3 South John Street, Liverpool
“Disappointing news that the Liverpool Post Office branch on South John Street is set to close in January 2027,” noted local MP Kim Johnson on Facebook. “We cannot afford to see essential services withdrawn from Liverpool city centre without proper consideration of the impact on local communities and those who rely on them.”
The Liverpool Echo reported 7th October that two city centre councillors have requested an urgent meeting after it was a confirmed a ‘much-needed’ store is set to close in Liverpool ONE.
Norfolk
• Thetford – Closed
Was At: 21 Market Street, Lancaster LA1 1HZ
Nottinghamshire
• Nottingham – Victoria Centre – closing 31st December 2026
124 – 126 Victoria Centre, Nottingham, Nottinghamshire, NG1 3QD
A closing-down sale will take place at the Nottingham city centre branch ahead of its final day of trading
Northamptonshire
• Northampton
Weston Favell Shopping Centre, 23-25 Billing Brook Road, Weston Favell, Northampton NN3 8JZ
No news about the town’s town centre store but the Closing Down signs are up at Weston Favell
Oxfordshire
• Didcot – closing 9th January 2027
188 The Broadway, Didcot, Oxon, OX11 8RN
Shropshire
• Bridgnorth, Brighton (on London Road) – closing 13th October 2026
40-41 High Street, Bridgnorth WV16 4DB
• Telford – closing January 2027
The Centre, 112-114 Woodhouse Central, Overdale, Telford TF3 4AF
Somerset
• Bath – closed 1st September 2026
Was at: 6-7 Union Street, Bath
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 TG Jones/their owner to account.”
• Clevedon – closed 26th September 2026
19 The Triangle, Clevedon BS21 6NQ
• Frome – closing 30th September 2026
1-2, Market Place, Frome BA11 1AR
• Wellington – Closed 6th January 2026
7 Fore Street, Wellington TA21 8AA
• Wells – Closed 19th September 2026
45 High Street, Wells BA5 2AE
Staffordshire
• Leek – unconfirmed October date
7-11 Derby Street, Leek, Staffordshire, ST13 6HN
• Walsall – closing October 2026
Park Street, Walsall 50 Park Street, Walsall, WS1 1NL
Suffolk
• Bury St. Edmunds – closed 3rd October
15 Cornhill, Bury Saint Edmunds IP33 1DY
• Ipswich – Closed
Was at: 12-14 Westgate Street, Ipswich IP1 3EG
• Sudbury – closing in January 2027
5 – 7 North Street, Sudbury CO10 1RB
Surrey
• Redhill – closed 5th September 2026
Station Road, Redhill RH1 1PH
• Worcester Park – closing sale began August 2026
153 Central Road, Worcester Park,Surrey, KT4 8DT
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.”
Sussex
• Burgess Hill – Closing 9th January 2027
27 Church Road, Burgess Hill, West Sussex, RH15 9BB
• Crawley – closing February 2027
23 – 24 County Mall, Crawley, West Sussex, RH10 1FF
• Hove – Closed
Was At: 15 George Street, Hove, England BN3 3ZA
• Lancing – closing 26th September 2026
41-43 North Road, Lancing BN15 9AS
• Rustington – closed 23rd September 2026
4 Churchill Parade, The Street Rustington, West Sussex, BN16 3DJ
• Uckfield – closed 12th September 2026
33 High Street, Uckfield TN22 1AG
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.
Warwickshire
• Kenilworth – closed 26th September 2026
Talisman Square, Kenilworth CV8 1JB
• Stratford-upon-Avon – closing 20th October 2026
4 – 5 High Street, Stratford Upon Avon, Warwickshire, CV37 6AU
Wiltshire
• Marlborough – closing 17th October 2026
110 High Stret, Marlborough SN8 1LT
• Swindon – closed 13th September 2026
Was At: 10-12 Regent Street, Swindon SN1 1JQ
WHSmiths had been a fixture of Regent Street in Swindon’s town centre for 50 years. (See also BBC News 15th September report here)
What was once WH Smith HQ on Greenbridge Road in Swindon is to be replaced with 219 new homes, including five and six-storey blocks of flats.
• Trowbridge – closing 9th Janaury 2027
43 – 44 Fore Street, Trowbridge BA14 8EJ
Worcestershire
• Droitwich – closing 31st October 2026
17 Victoria Square, Droitwich WR9 8DE
The building on Victoria Street had housed WHSmith since it was built in the late 1920s
• Malvern – closed 6th October 2026
14 Belle Vue Terrace, Great Malvern, Malvern WR14 4PZ
Yorkshire
• Beverley
6-8 Toll Gavel, Beverley HU17 9AJ
The health and cosmetics brand Rituals has applied for planning permission to redecorate and install advertising in the current TG Jones, which was still open as of 22nd September.
• Bradford – closing 11th October 2026
The Broadway Shopping Centre, Hall Ings, Bradford BD1 1JR
• Coventry (West Orchards Shopping Centre) – closed June 2026
West Orchards Shopping Centre), Smithford Way, Coventry CV1 1QS
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.
• Driffield – closed in August
• Hull
Prospect Street The Prospect Shopping Centre 10-20, Hull HU2 8PN
• Keighley
Edinburgh House, 24 The Grove, Ilkley LS29 9EE
• Redcar – closed 5th September 2026
Was At: 30 High Street, Redcar TS10 3DS
• Sheffield (Fargate) – closing 9th January 2027
38-40 Fargate, Sheffield City Centre, Sheffield S1 2HE
• York – closing 14th October 2026
39-41 Coney Street, York YO1 9QL
The retail store’s final day of trading is listed for Monday 19th October, but the BBC reports the integrated main Post Office will close earlier on Wednesday, 14th October 2026. An advert on the Post Office website, external for applicants to run the main city centre office closed on 10th September.
With Driffield which closed in August and Beverley which is closing or may be closed now, with the Hull store already closed there are now no actual stores in the East Riding of Yorkshire area
London
• Brixton – closed 26th August 2026
427 Brixton Road, London SW9 8HE
• Cheam Village
4 Station Way, Cheam, Sutton SM3 8SW
• Ealing – closing 4th January 2027
39 – 42 Ealing Broadway Centre, Ealing London,Greater London, W5 5JY
TG Jones is to close its branch inside Ealing Broadway shopping centre, with the Post Office confirming that its branch within the store will also shut on 4th January 2027.
• Eltham – closing 9th January 2027
92 – 94 High Street, Eltham, London, SE9 1BW
• Greenford, London – closed 26th September 2026
1000 Greenford Rd, Greenford UB6 0UW
• Harrow – closing 9th January 2027
St. Anns Road, Harrow HA1 1AS
• Pinner – Closing 14th October 2026
11 Bridge Street, Pinner HA5 3HR
Commenting on the closure on 27th August, local MP David Simmonds said “I am disappointed to learn that TG Jones on Bridge Street will be closing in October. This will impact a number of jobs, as well as access to post office and banking services in Pinner.
“In a letter to my office, Chief Executive Alex Wilson has offered reassurances around ongoing support for affected colleagues, including help in finding new employment opportunities. He also notes that the decision has followed ‘a detailed review of store performance and long-term sustainability’ and has ‘not been taken lightly’.
“This also means the loss of the Post Office, which will be frustrating for residents who rely on it for everyday services, including banking. There is a Post Office consultation on how best to continue offering these services to the community in Pinner, and I encourage residents to respond. I know this will be unwelcome news for many, but I will continue to stand up for the community and ensure your voices are heard.”
• Watford (Harlequins) – closing 27th January 2027 (there is still a WHSmith branch at Watford Junction)
Water Lane The Harlequin 54, Watford WD17 2TF
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.”
• Wimbledon Quarter
Centre Court Shopping Centre, 102-103 Queen’s Rd, London SW19 8YA
Scotland
This section was last updated on Wednesday 7th October 2026
TG Jones still has stores in Dundee, Tayport, Cupar, Glenrothes, Perth, and Montrose
• Arbroath – closing 9th January 2027
196 High Street, Arbroath, DD11 1HY
• Ayr – Closed
Was at: 198-200 High Street, Ayr KA7 1RH
• Dalkeith – Closing 9th January 2027
67-71 High Street, Dalkeith EH22 1JA
• Inverness – closed 6th October 2026
25-33 High Street, Inverness IV1 1HT
• Kilmarnock – closed
Was At: 38-40 King Street, Kilmarnock KA1 1NP
• Largs – closing 23rd December 2026
34 Main Street, Largs, KA30 8AL
• Livingston – unconfirmed closure date
The Centre, 33-35 Almondvale S, Livingston EH54 6NB
• St Andrews – closing 9th January 2027
90 – 92 South Street, St Andrews, Fife, KY16 9QD
• Stirling – Closed
Was at: The Thistles Shopping Centre, 44 Thistle Centre, Stirling FK8 2EE
Wales
This section was last updated on Wednesday 7th October 2026
• Bangor – closing November 2026
264 High Street, Bangor, Gwynedd, LL57 1PB
• Bridgend (The Rhiw Shopping Centre)
7 The Rhiw, Bridgend CF31 3BL
• Caerphilly – closed 18th July 2026
Was At: Castle Court Shopping Centre, Castle Street, Caerphilly CF83 1NU
• Cardigan – closed 26th 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)
• Monmouth – Closed and cleared
Was At: 52-54 Monnow Street, Monmouth NP25 3EN
• Tenby – unconfirmed closure date
7 High Street, Tenby, Pembrokeshire, SA70 7EU
WHSmiths had operated in Tenby since 1927. The building has been listed to let
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.”
Government Action on High Street Woes?
This section was last updated on 18th September 2026
Responding to concerns raised about the conduct of certain retail investors and the impact on high street businesses and employees, in a letter dated 1st September 2026, Kate Dearden MP, Minister of State for the Future of Work, Department of Business, Innovation, Science & Trade commented:
“I recognise the strength of feeling on this issue. Decisions to acquire, restructure, or close businesses are ultimately commercial matters for company owners, who are responsible for managing their businesses in line with company and insolvency law. Where firms fail and cannot meet their obligations, eligible employees are protected by statutory redundancy and related payments, which can be claimed from the National Insurance Fund.
“The government has clear frameworks in place to regulate business ownership and protect employees. Private equity firms are able to acquire retailers as part of normal commercial activity, but they must comply with UK company and insolvency law.
“Where a company enters liquidation there are mechanisms in place to recover misappropriated funds and tackle directors’ misconduct. The appointed insolvency practitioner has a legal duty to report to the Insolvency Service on the conduct of the directors. If there is evidence of wrongdoing or misconduct by the directors, the Insolvency Service may seek to have the individual disqualified from acting as a director and/or make a referral to the appropriate prosecuting authority to consider any potential criminal offences.
“More broadly, the government is taking significant steps to support retail businesses on high streets. From April 2026, we introduced permanently lower business rates multipliers for retail, hospitality and leisure properties, worth nearly £900 million a year and benefiting over 750,000 premises. In recognition of the impact of the revaluation on bills, the government has also introduced a £4.3 billion transitional support package over 3 years, to protect ratepayers from large overnight increases. Later this year, we will bring forward a new High Streets Strategy to help reinvigorate our high streets.
“I appreciate how concerning these matters can be for workers and communities, and my officials continue to monitor these issues closely.”
While the announcement of action on the High Streets earlier this year under Keir Starmer’s Premiership, was welcomed by some, it was not without qualification.
“With the UK Government announcing that a new High Streets Strategy will be published later this year, attention amongst many in the sector is turning to what it will actually mean for high streets, towns and city centres across the country,” noted the Institute of Place Management.
“The question is not whether we need another strategy. The question is whether it will deliver meaningful, place-based change.”
Publishers Fighting Back
This section was last updated on 21st 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 and Features
This section was last updated on 18th September 2026
• downthetubes: The British Comic Industry Q&A
• Looking for the downthetubes UK Comic Sales Figures, which we documented through published ABC figures since 2006 until February 2024? The spreadsheet is here (We stopped updating this as so few comics now report sales to ABC)
• WHSmith confirms planned sell off of high street stores – Modella Capital, Alteri, Hilco vying to buy?
26th January 2025, updated 25th March 2025: The news that British retailer WHSmith is looking to sell or, potentially, close all its remaining high street stores has had a mixed early reaction, but either course will impact comic publishers and buyers across the UK. Includes list of then recent WHS shop closures
• High Street WHSmith Stores sold to owner of Hobbycraft
28th March 2025: WHSmith has agreed to sell its high street business to Modella Capital, the owner of Hobbycraft, which it bought last year. Modella’s other recent acquisitions include the Lakeland retail brand.
• WHSmith High Street sale good news for publishers?
29th March 2025: Things initially appeared good, and we pondered whether the sale of WHSmith High Street to Modella Capital could be good news for publishers of comic and magazines, perhaps restoring them to stronger positioning in stores.
• WHSmith High Street closures continue apace, despite £76 million buyout
11th April 2025: Despite the recent announcement WHSmith has sold its High Street operation to Modella Capital, owners of Lakeland and Hobbycraft, it hasn’t ended the ongoing closure of its in town stores.
• 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
Timeline
• Sky News originally broke the news that WHSmith has been in secret talks to sell its entire high street business in Britain, more than 230 years after it opened its first shop in central London
• Time Out has a list of all the WHSmith High Street stores closing in 2025 here
• 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 TG Jones 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 Tim Allman, Richard Bird, Jeremy Briggs, Richard Briscoe, Jon Carpenter at Alien Station, Tony Davis, Scotty B Elcock, Dave Elliott, Marc Essex, Paul Faulder, Tony Foster at ComicScene, Mark Humphreys, Ian Golden, Iskander Islam, Richard Long, Judith Patten MBE, Jonathan Sapseed, Lew Stringer and Nick Williams
- 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.