WH Smith
Coverage of WH Smith in the Nexus archive.
- Former WH Smith chain TG Jones gets green light to close up to 150 shops as turnaround plan approved in court
TG Jones, a former WH Smith chain, has been approved to close up to 150 shops as part of a court-approved turnaround plan. The court approved the plan to close shops as part of restructuring efforts.
- WH Smith Cuts Outlook, Seeks Capital as Iran War Weighs on Sales
WH Smith has cut its financial outlook and is seeking capital as the Iran war negatively impacts its sales. A WH Smith store is mentioned at an airport in Spain.
- WH Smith to raise £100m as it warns on profits due to Iran war
WH Smith plans to raise £100m to strengthen its finances and shut unprofitable stores after a decline in airport shopper numbers linked to the Middle East conflict. The retailer issued a profit warning due to reduced consumer activity in US airports amid the war.
- PwC under investigation over accounting scandal at WH Smith
PwC is under investigation related to an accounting scandal at WH Smith. The investigation focuses on accounting practices at the retail company.
- Flying Tiger snapped up by Modella Capital amid fears for its future
Flying Tiger, a Danish retailer with 1,000 stores globally, was acquired by UK-based Modella Capital, known for restructuring. The move comes amid concerns about its future, with Modella backing current management.
- Dozens of Post Office counters in rebranded former WH Smith stores are feared at risk in TG Jones overhaul
Dozens of Post Office counters in rebranded former WH Smith stores are at risk due to an overhaul by TG Jones. The overhaul may impact the availability of postal services in these locations. The exact number of affected counters is not specified.
- Fears of ‘postal deserts’ as owner of former WH Smith stores puts counters under threat
TG Jones, the owner of former WH Smith high street stores, is seeking to change Post Office contracts to make it easier to close outlets within its stores. Up to 60 of the 180 Post Office locations operated by TG Jones could be affected by the restructuring plan by private equity firm Modella. The potential closures have raised concerns about communities becoming 'postal deserts'.
- Revealed: owner of former WH Smith stores is charging fee to use fictitious ‘family’ brand
Modella Capital, owner of former WH Smith stores, is charging a fee to use the 'TG Jones' brand and has been owed £2.9m in royalty fees. The company blames weak consumer spending and a forced name change for negatively impacting its business. Modella Capital may shut 150 of its 450 shops as part of a restructuring plan.
- Former WH Smith stores face closure: Hundreds of jobs at risk as TG Jones plans to axe 150 shops
Former WH Smith stores are facing closure due to plans by TG Jones to axe 150 shops, putting hundreds of jobs at risk. The closures will affect various locations. The move is expected to have significant employment implications.
- Dozens of former WH Smith stores face closure, putting thousands of jobs at risk
Dozens of former WH Smith stores face closure due to weak consumer spending, putting thousands of jobs at risk under new owner Modella Capital's restructuring plan. The investment company bought WH Smith's chain of 480 high street stores for £76m last year and rebranded them to TG Jones. The closures are a result of the company's efforts to address financial difficulties.
- WH Smith Suspends Dividend as It Warns of Iran War Impact
WH Smith has suspended its dividend and issued a warning about the potential impact of a possible war with Iran on its business. The company, which operates a store at an airport in Spain, cited global geopolitical tensions as a factor affecting its financial performance.