TG Jones, the rebranded WHSmith high street arm, has launched a closing down sale at its Inverness branch, with “everything must go” banners reportedly seen in the storefront window.
An exact closure date for the branch has not been confirmed. The move is part of a wider culling of high street stores across the UK.
Shoppers react to closure
“High street dying a little bit more,” one shopper said, reports The Sun. “Very sad,” said another.
The WHSmith high street arm was sold last year and rebranded as TG Jones in a £76 million shake-up to try and save the business. Trading is understood to have been poor, however. WHSmith continues to operate its travel shops, which was the more profitable part of the business.
Restructure and store closures
TG Jones’s owner, Modella Capital, gained approval for a company-wide restructure on July 1. Up to 150 stores are at risk of closure. Rent is set to be cut by 15 to 75 per cent on hundreds more.
A branch in Swindon is set to shut on September 14, and the branch on Southend-on-Sea high street on September 26.
