Overview
- Sky News reports over the weekend describe a refinancing plan that would shut about 100 TG Jones shops and lower rents across many of the rest.
- Modella Capital is in talks to replace Secure Trust Bank as lender, with Aurelius named by multiple outlets, while Teneo and Slaughter & May are advising.
- The company is considering a court-backed "cram-down" process that can approve a restructuring even if some creditors vote against it.
- Leaders hope around 400 stores continue if landlords agree to rent cuts, with sites flagged at risk in Swindon, Chippenham, Oxford, Ipswich, Hampshire and North Wales, and a Stirling lease ending in July.
- The high-street chain was sold by WHSmith for about £76m in 2025 and rebranded as TG Jones, then struggled through weak trading, including a poor Christmas, which has put hundreds of jobs and some in-store Post Offices at risk such as the Ipswich branch set to close on June 6.