TG Jones Takes Over WH Smith's High Street Arm with Expansion Plans
In June 2025, Modella Capital acquired WH Smith's high street arm for up to £40 million, with half of the payment contingent on trading through August 2026 and a £12 million reduction due to softer trading. This high street division was rebranded as TG Jones, separating it from WH Smith's travel-retail arm, which continues to operate in airports, stations, and hospitals, remaining listed on the London Stock Exchange despite experiencing a drop in share price linked to US accounting issues.
TG Jones intends to expand to approximately 500 outlets, aiming to become the hub of the high street by combining post office and banking services with learning and reading products. Expansion efforts are targeted particularly at the north-east of England and the East Midlands. To date, 14 of the 456 TG Jones stores have been revamped, with 10 more renovations planned.
The retailer has incorporated Toys R Us sections in 115 stores, planning to increase this presence to over 250 locations. Hobbycraft sections are expected in up to 250 stores by 2027, with some outlets also featuring Claire's branding.
Customer feedback six months after the deal indicates little noticeable change; many shoppers continue to compare prices with rivals and prefer online shopping for items like cards, with some unaware of the name change from WH Smith to TG Jones. Since March 2025, 24 TG Jones stores have closed, including nine closures following the completion of the acquisition in June 2025.
