TG Jones, the newly rebranded high street division of WH Smith, could be facing the closure of 100 branches as it prepares to announce a major restructure. According to The Times, new owner Modella Capital, which has just confirmed the closure of all Claire's branches, has been drawing up a plan that could see 100 sites shut.

Modella is understood to be working alongside advisers at Teneo and law firm Slaughter and May on a restructuring proposal. The plan would keep 400 branches trading — provided landlords agree to renegotiate existing rent arrangements.

TG Jones is reportedly preparing to appear before the High Court to seek a judge's approval for the move, arguing it is the only viable alternative to administration.

Modella also shuttered all 137 branches of The Original Factory Shop following its acquisition of that chain. The firm has attributed the closures of Claire's and TOFS to rising costs brought in by the Government. The new owner had pledged not to close branches or restructure for 12 months after purchasing the chain from WH Smith — a deadline that is now fast approaching.

WH Smith continues to operate as a separate business, with outlets in airports, railway stations and motorway service stations. WH Smith's high street stores, originally founded in 1792 by Henry Walton Smith, were rebranded to TG Jones following a £76 million sale to Modella Capital in March 2025.

Earlier this week, Claire's closed all 154 of its high street shops across the UK and Ireland. Administrators for the fashion accessories retailer confirmed that approximately 1,300 members of staff face redundancy as a result. The decision does not impact the retailer's 356 concessions, including numerous outlets in Asda stores, and its headquarters. The retailer – which is renowned for its jewellery, fashion accessories and ear-piercing services – was established in the US and initially arrived in the UK in 1996.

It rapidly grew across UK high streets, but has faced pressure from budget online rivals in recent years. The shutdowns follow owner Modella Capital's appointment of Kroll to manage the administration earlier this year.

Modella, which also owns Hobbycraft, placed the brand into insolvency after it was struck by "alarming" poor Christmas trading. It represented the second administration for the business within months, having initially been acquired by Modella from administration in September last year.

Claire's had already closed 145 stores, with approximately 1,000 jobs lost, during the earlier administration last year. A spokesman for Kroll said: "As of April 27, all Claire's standalone stores in UK and Ireland have ceased trading. All store employees have been advised of redundancy. We understand an interested party is in discussion with a number of landlords with a view to taking new leases for some of the sites."