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Jobs lost as UK high street chain shuts 19 more stores amid plans to close 150 sites
Closing-down sales have begun, and the company says the plan could cut around 3,800 roles across its UK and Ireland workforce.
- Retailer TG Jones closed 19 stores by the end of September under a High Court-approved restructuring plan designed to avoid insolvency.
- Tom Smith KC, representing the retailer, cited a 'long-term sales decline' worsened by high inflation, rising operating costs, and the rebranding from WHSmith.
- The restructuring plan encompasses up to 150 total store closures, supported by an additional £15 million loan from Modella Capital to fund the turnaround strategy.
- Online shoppers can purchase items for as little as £1, with the retailer warning, 'Don't miss your last chance to buy and grab your favourites for less today.'
- Further closures are expected throughout October as Chief Executive Alex Willson stated, 'We welcome the court's approval of our restructuring plan' to strengthen the business.
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Total News Sources27
Leaning Left1Leaning Right0Center25Last UpdatedBias Distribution96% Center
Bias Distribution
- 96% of the sources are Center
96% Center
C 96%
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