Overview

• WH Smith sold its 480 UK high street stores to Modella Capital for £76 million in March, ending its two-century-long high street presence.
• Modella Capital plans to roll out the TG Jones brand across all outlets, with planning applications already filed for signage changes at Witney and Beccles branches.
• The new name was chosen to evoke a familiar, family-run retailer and to resonate with customers nationwide, Modella Capital says.
• About 5,000 employees across the acquired stores are affected by the deal, while WH Smith’s airport, rail and hospital shops remain under its ownership.
• WH Smith will focus on its international travel retail business, which operates in 32 countries and generates 85 percent of the group’s profits.