Restructuring will impact around 100 of TG Jones' 480 stores, with branches in Ipswich, Swindon and Oxford among those affected
High Street Post Offices face closure as up to 100 TG Jones stores prepare to shut in a sweeping restructure. The former WHSmith high street business, now under the ownership of Modella Capital, is undergoing a dramatic overhaul that could result in up to 100 branches closing their doors for good.
The private equity firm, which snapped up WHSmith's high street newsagent estate in 2025, is understood to be drawing up plans to prevent the business from collapsing entirely. Reports indicate the restructuring will affect around 100 of the chain's 480 shops, with approximately 400 stores expected to remain open and continue trading.
The plans come following the expiry of a 12-month moratorium on closures that had been agreed as part of the takeover from WHSmith in 2025.
Modella is working alongside professional services firm Teneo and law firm Slaughter and May on the proposals.
Ipswich Post Office, located on the first floor of a TG Jones branch, is amongst the outlets set to be affected, with the high street store confirming it will shut on Saturday, June 6.
According to reports, the business is weighing up the use of a legal mechanism known as a "cram-down", which can enable a restructuring plan to be pushed through with the backing of one class of creditor and the High Court, even where other creditors raise objections.
Secure Trust, understood to have provided a £50m loan to support the original acquisition, is expected to play a pivotal role in the forthcoming negotiations.
The restructure arrives less than a year after Modella completed its purchase of WHSmith's high street arm. Since the TG Jones rebrand, the retailer has faced considerable difficulties.
Original ambitions had been to expand the chain to more than 500 stores; however, the rebranding exercise has proved unsuccessful. Among the other branches anticipated to shut are those in Swindon, Chippenham, Oxford, Hampshire and North Wales.
A Post Office spokesman insisted they were seeking alternative retail locations to host counters in areas affected by the TG Jones stores closures.