Up to 150 ex-WHSmith High Street stores to close as resue deal approved
The owner of the former WHSmith High Street stores, TG Jones, has received court approval for a restructuring plan that includes closing up to 150 shops. The company cited challenging retail conditions and a lack of brand rights as primary reasons for its financial distress.
Why it matters
The restructuring highlights the ongoing struggles of traditional brick-and-mortar retail in the UK and the impact of insolvency proceedings on landlords and employees.
Image source, Getty Images By Emma Simpson Business correspondent Published 14 minutes ago The owner of TG Jones, WH Smith's former High Street business, has won approval for a sweeping restructuring which will see up to 150 shops close as well as steep rent cuts on most of the remaining stores.
The report relies on court proceedings and business statements, maintaining a neutral, objective tone.
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