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Modella Capital's TG Jones Chain Faces Restructuring as Bailiffs Seize Former WH Smith Locations

Modella Capital's TG Jones restructuring enters critical phase as bailiffs seize control of store locations and change locks at properties.

Asude Karataş • 20 Haziran 2026 20:50 • 3 dk okuma • 16 görüntülenme

Modella Capital's TG Jones restructuring effort has reached a breaking point, with bailiffs enforcing lease forfeitures and changing locks at former WH Smith locations. The rebranded retail chain faces administration unless it closes as many as 150 stores and secures £35 million in fresh investment. The company has warned creditors that failure to execute its downsizing plan will trigger insolvency proceedings.

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Enforcement Actions Escalate
Restructuring Plan and Timeline

Enforcement Actions Escalate

Property enforcement teams moved into a TG Jones store in Malvern, Worcestershire, on Monday, issuing dual notices to halt trading. A forfeiture notice from Parkinson Bailiff Services confirmed that the landlord had re-entered the premises and determined the lease, with a warning that further access attempts would invite legal action. A second notice from Romans Commercial, issued by Clive Staszewski, instructed the company to collect its equipment from the property by 29 June, after which remaining goods could be disposed of under the Torts (Interference with Goods) Act 1977.

Eight TG Jones stores have closed across the country within the past week, signalling accelerating financial distress. Worcestershire alone hosts seven operating TG Jones locations in Bromsgrove, Droitwich, Evesham, Kidderminster, Malvern, Redditch, and Worcester—all now considered at risk of closure.

Restructuring Plan and Timeline

Modella Capital acquired the rebranded WH Smith stores in 2025 but has encountered severe cash flow challenges. The investment firm has proposed a dual strategy: close up to 150 underperforming outlets nationwide and inject £35 million into the remaining business to stabilize operations. The company has effectively presented creditors with a binary choice—approve the restructuring or face administration and potential total loss.

Reports indicate the company is also pressuring suppliers as part of its survival strategy, seeking better terms and extended payment periods to preserve liquidity during the transition period.

What triggered the bailiff action at TG Jones stores?+

Property landlords initiated forfeiture proceedings after lease terms were breached. Modella Capital's financial difficulties resulted in missed rent or other obligations, prompting landlords to enforce their legal rights through bailiff services and lease determination.

How many TG Jones stores are at risk of closure?+

Modella Capital has proposed closing up to 150 TG Jones locations nationally as part of its restructuring plan. Seven stores in Worcestershire alone are identified as at-risk, with eight closures already executed across the country in recent days.

What is the £35 million investment meant to achieve?+

The proposed £35 million injection is intended to stabilize the remaining TG Jones locations after the closure programme concludes. The funds would support working capital, debt management, and operational restructuring of the surviving store estate.

What happens if creditors reject Modella Capital's restructuring plan?+

The company faces administration if the restructuring plan is not approved. Administration would likely result in further store closures, asset sales, and potential total loss of creditor investments.

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