Overview
- TG Jones, which hosts 180 Post Office branches, set out on May 7 a restructuring that could close up to 60 in-store counters, with creditors due to vote in June.
- Eight TG Jones store closures are already confirmed and seven contain Post Office counters, including sites in East Ham, Waltham Cross, Torquay, Hull, Ayr, Middleton and Solihull.
- Proposals would cut closure notice for outlets that lose their leases from six months to 56 days and replace usual rights with a payment equal to 170% of estimated profits, with a £500 minimum, through June 2029.
- The plan leans on steep rent reductions that reporters say many landlords may reject, which could see as many as 150 of the chain’s 450 stores shut and put thousands of jobs at risk.
- The Post Office calls the closures regrettable and is seeking nearby alternative sites, Modella says some counters could shift to other portfolio retailers such as Hobbycraft, and the CWU warns some areas risk becoming postal deserts.