The future of hundreds of former WHSmith high street stores is hanging in the balance after reports revealed that up to 150 locations could close across the UK. The development has sparked fears for thousands of workers as retailer TG Jones, the rebranded successor to WH Smith’s high street division, struggles to survive under mounting financial pressure.
The potential closures represent one of the biggest high street shake-ups of 2026 and underline the growing crisis facing Britain’s brick-and-mortar retail sector. With rising operating costs, weak consumer spending, inflation concerns, and declining footfall continuing to hurt retailers, many experts believe this could mark another major turning point for UK shopping streets.
According to reports published on May 6, 2026, investment firm Modella Capital — the owner of TG Jones — has launched a major restructuring plan that may lead to the closure of nearly one-third of the chain’s stores.
Why Are Former WH Smith Stores Closing?
The closures are linked to a sweeping restructuring proposal introduced by Modella Capital after acquiring WH Smith’s high street business last year for around £76 million.
After the acquisition, the iconic WH Smith high street stores were rebranded as TG Jones, ending more than 230 years of the WH Smith name on British high streets. While WH Smith’s profitable airport, rail station, and travel stores remain operational under the original brand, the high street business has struggled significantly since the takeover.
Modella Capital says several factors have pushed the business into crisis, including:
- Weak consumer spending
- Rising business costs
- Inflation pressures
- Geopolitical instability
- Reduced customer footfall
- Brand confusion after the WH Smith rebrand
Company insiders reportedly admitted that changing the familiar WH Smith name to TG Jones negatively affected customer awareness and sales performance.
The restructuring plan is now focused on reducing rent costs and shrinking the company’s footprint to create a smaller, more sustainable retail chain.
How Many Stores Could Close?
Current reports suggest that between 100 and 150 stores may shut permanently across the UK.
Eight stores are expected to close immediately, while another 100 locations face uncertainty depending on negotiations with landlords. Modella Capital is reportedly demanding:
- 100% rent holidays on some stores
- Major rent reductions on others
- Flexible lease agreements
If landlords reject these demands, more closures could follow.
Industry analysts believe the final number of closures could depend heavily on court proceedings and creditor approvals expected later this year.
Thousands of Jobs at Risk
One of the biggest concerns surrounding the restructuring is the impact on employees.
The chain currently employs around 5,000 workers across the UK, and many fear widespread redundancies if closures proceed at scale. Staff were reportedly informed that significant job losses are possible as the company moves forward with its survival plan.
Retail unions and employment experts have warned that high street workers are increasingly vulnerable as retailers continue to battle shrinking profit margins and online competition.
For many communities, the closure of a local TG Jones or former WH Smith branch could also mean losing an important town-centre retailer that provides books, stationery, newspapers, Post Office services, and convenience items.
The End of an Iconic British High Street Era
Founded in 1792, WH Smith became one of Britain’s most recognizable retail brands. Generations of shoppers visited its stores for books, magazines, stationery, school supplies, and travel essentials.
The company grew rapidly during the 19th century alongside Britain’s railway expansion and eventually became a staple of almost every UK town centre.
That is why the disappearance of the WH Smith name from many high streets shocked customers when Modella Capital introduced the TG Jones rebrand.
Many shoppers criticized the new branding online, arguing that the company had discarded a trusted British retail identity. Others said they were confused by the sudden change and unsure whether TG Jones was connected to WH Smith at all.
Retail experts now believe the rebrand may have accelerated the decline in customer traffic.
Why Britain’s High Street Is Struggling
The TG Jones crisis reflects wider problems across the UK retail industry.
Over the past decade, Britain’s high streets have faced enormous challenges due to:
1. Online Shopping Growth
Consumers increasingly shop online for books, stationery, gifts, and office supplies, reducing the need for physical stores.
Major e-commerce platforms have transformed shopping habits, especially among younger consumers who prioritize convenience and fast delivery.
2. Rising Business Costs
Retailers continue to battle:
- Higher energy bills
- Wage increases
- Business rates
- Supply chain costs
- Rent pressures
These expenses have made it difficult for many chains to remain profitable.
3. Cost of Living Crisis
Inflation and rising household bills have caused shoppers to cut back on non-essential spending.
Retailers that rely on impulse purchases and discretionary spending have been hit especially hard.
4. Declining Town Centre Footfall
Many town centres have seen reduced visitor numbers since the pandemic, with remote working changing shopping patterns permanently.
Modella Capital Under Scrutiny
The restructuring plan has also drawn attention to Modella Capital’s wider retail strategy.
Industry insiders have questioned whether the investment firm ever intended to maintain all 480 stores acquired from WH Smith.
Some retail experts reportedly believe the company always planned to slim down the chain once contractual restrictions expired.
Criticism has intensified because several other retailers linked to Modella Capital have recently experienced severe financial trouble.
These include:
- Claire’s
- The Original Factory Shop
- Hobbycraft
Reports indicate that some of these chains have already entered administration or closed stores under restructuring programs.
This has raised concerns among landlords and retail workers about whether TG Jones can realistically recover.
Could More UK Retailers Close in 2026?
Unfortunately, analysts believe the retail sector may face additional closures this year.
Many high street businesses continue to operate with thin profit margins while dealing with inflation, weaker consumer confidence, and changing shopping habits.
Retail experts warn that mid-sized chains are particularly vulnerable because they often face pressure from both discount retailers and online giants.
Several reports suggest that more UK retailers could announce store closures or restructuring plans during 2026 if economic conditions remain difficult.
What Happens Next?
The future of TG Jones now depends on several critical developments:
Landlord Negotiations
The company must convince landlords to accept rent reductions and revised lease terms.
Court Approval
The restructuring proposal requires approval through legal and creditor processes.
Consumer Response
TG Jones also faces the challenge of rebuilding customer trust and increasing footfall after the controversial rebrand.
Investment Strategy
Modella Capital has pledged around £35 million to support the turnaround effort, but industry experts remain divided on whether that will be enough.
Could the WH Smith Brand Return?
Some shoppers have questioned whether the famous WH Smith name could eventually return to high streets if TG Jones struggles.
At present, there is no indication that this will happen. WH Smith’s parent company retained ownership of the profitable travel division and appears focused on airports, rail stations, and international growth rather than traditional high street retail.
However, retail history shows that iconic brands can sometimes return after restructuring or ownership changes.
For now, though, the TG Jones identity remains central to Modella Capital’s plans.
Public Reaction to the Store Closure News
News of the possible closures has triggered strong reactions across social media.
Many consumers expressed sadness over the decline of another historic British retailer, while others argued that high street shopping has fundamentally changed.
Common public concerns include:
- Loss of local jobs
- Empty town centres
- Reduced access to Post Office services
- Decline of British retail heritage
- Impact on elderly shoppers who rely on physical stores
Some shoppers also criticized the TG Jones rebrand, calling it unnecessary and damaging to customer loyalty.
What This Means for UK Town Centres
If up to 150 stores close, the impact could extend beyond retail employees.
Large empty retail units can damage town centre economies by:
- Reducing foot traffic
- Lowering nearby business revenue
- Increasing vacancy rates
- Hurting local confidence
- Making regeneration harder
High street closures also affect cafes, transport services, and independent shops that rely on nearby anchor retailers to attract customers.
Local councils across the UK are already under pressure to revitalize struggling town centres, and another wave of major store closures could create additional challenges.
Is the British High Street Dying?
Despite growing concerns, many retail experts believe the high street is evolving rather than disappearing completely.
Successful town centres increasingly focus on:
- Experience-based shopping
- Food and leisure
- Independent retailers
- Community services
- Flexible mixed-use spaces
Retailers that adapt to changing consumer habits may still succeed, especially those combining online convenience with strong in-store experiences.
However, traditional large-format retail chains continue to face enormous pressure.
The TG Jones situation highlights just how difficult survival has become for legacy high street businesses in modern Britain.
Final Thoughts
The possibility of up to 150 former WH Smith stores closing marks another major moment in the ongoing transformation of the UK retail industry.
For thousands of workers, landlords, suppliers, and communities, the coming months will be filled with uncertainty as TG Jones attempts to secure its future through aggressive restructuring measures.
Whether the business can survive remains unclear, but one thing is certain: Britain’s high street landscape is changing faster than ever before.
The disappearance of the WH Smith name from town centres already symbolized the end of an era. Now, the potential closure of hundreds of former stores may become another defining chapter in the story of Britain’s struggling retail sector.
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