The major high street chain TG Jones has pledged to lower its prices amidst a turbulent period that has prompted a major restructuring plan. Boss Alex Willson recently took to LinkedIn to share his vision for the struggling firm, which he has owned for three months following its rebrand from WHSmith.
Restructuring Plans Unveiled
Willson outlined several strategies to 'turn around' the business, including fairer pricing, store revamps, hiring more employees, and introducing new categories. He wrote: 'While we are working hard to get our restructuring plan approved and secure the future of this business, we aren't short of ideas in how to turn around the business. But can TG Jones be turned around? It won't be easy...but it absolutely can!'
Fairer Pricing Commitment
Willson emphasized: 'Fairer pricing: We are no longer tied to WHSmith airport and rail pricing. High Street prices are coming down. Simple as that.'
Background and Challenges
In 2025, investment firm Modella Capital Ltd purchased all 480 WHSmith stores, rebranding them under TG Jones and ending a 200-year legacy. However, last month the business announced plans to close between 100 and 150 shops due to 'high challenging trading conditions.' Factors affecting sales include consumer spending habits, higher costs, and the negative impact of the forced name change.
Investment and Overhaul
Modella has invested around £35 million into the overhaul, described as an 'essential part of the company's turnaround.' The firm is also seeking 100 percent rent holidays on 100 stores to rescue the business.
Store Improvements and New Categories
Willson's LinkedIn post detailed rescue plans, including bringing in more Store Managers and Area Managers, increasing hours to better serve colleagues and customers. Stores will receive LED lighting, refreshed flooring, and new paint. The firm is trialling reducing clutter and focusing on bestsellers. New categories will be introduced based on customer feedback, with TG Jones aiming to 'buy smarter' and stock what customers want. After restructuring, partnerships with Post Office Ltd, Toys 'R' Us, and Hobbycraft may expand.
Inevitable Closures
Willson acknowledged that 'there will be some closures along the way.' Recently, Stirling is set to lose its only TG Jones branch at Thistles Shopping Centre, closing on July 11 after failing to find an alternative location, though the brand is seeking a new partner in the city.
