Overview
- Owner Modella Capital has appointed Teneo to draw up a restructuring plan, with store closures under consideration but no decisions taken.
- Reports indicate roughly 80 locations across a 450-plus estate are most vulnerable following a period of weak sales.
- Advisers are also weighing rent renegotiations with landlords and a potential request for support from WH Smith.
- Local fallout is starting to show: the Maidenhead branch says it is in its final weeks with a 30% clearance sale, and its in-store Post Office will shut.
- Constraints from last year’s sale include a reported 12‑month limit on closures, while Modella’s recent administrations of Claire’s and The Original Factory Shop and concerns over the TG Jones rebrand add to the pressures.