80 TG Jones stores 'on brink' as owner prepares new restructure plan
Modella Capital has appointed advisers from Teneo to create a restructuring plan for the stationery retailer, with around 80 stores out of 480 'most at risk'
www.mirror.co.ukHere’s what’s been happening with TG Jones (Modella Capital) and its restructuring efforts.
- TG Jones has appointed restructuring advisers to map a plan aimed at stabilizing the business. This step has been reported after Modella Capital took over the company, signaling a focus on a potential turnaround.[1][3]
- The company is reportedly exploring significant store reductions as part of the plan, with estimates ranging around 80–100 stores at risk, which would affect hundreds of jobs if implemented.[2][4][5][1]
- A debt refinancing is also in discussion, with potential new lenders and terms that could accompany the restructuring, including possible changes to existing financing arrangements.[4][7][2]
Key takeaways
- The restructuring appears to be comprehensive, touching both store network reductions and financial restructuring to secure a sustainable path forward.
- Public reporting suggests a focus on reducing the number of stores to around 400–400+ while pursuing rent reductions and seeking additional capital or reorganized debt terms.[6][4]
- Outcomes remain uncertain, as no final decisions have been publicly confirmed, and lender negotiations or landlord agreements will heavily influence the final scope.[1][6]
Illustration
- Think of the plan as a corporate “pivot” that trims underperforming branches, renegotiates debt, and seeks strategic funding, all coordinated to avoid bankruptcy while preserving the core business.
Cited sources
- TG Jones owner appoints advisers to draw up restructuring plan for the business [Retail Gazette, 2026-03-01].[1]
- TG Jones nears new debt deal as restructuring plan and closures loom [The MBS Group, 2026-05-04].[2]
- TG Jones Restructuring Plan: Store Closures and Job Losses Feared [IndexBox, 2026-03-01].[3]
- TG Jones facing potential closure of 100 stores amid restructure [Downtime The Tubes, 2026-05-02].[4]
- UK high street chain could close 100 stores as part of major restructure [Mirror, 2026-05-04].[5]
- 80 TG Jones stores on brink as owner prepares new restructure plan [Mirror, 2026-03-02].[6]
- TGJones near restructuring plan with new money injection [9fin, 2026-04-26].[7]
If you’d like, I can gather more detail on a particular facet (e.g., exact store-count projections, likely lenders, or the latest timeline) or summarize the most recent official statements from Modella Capital.