TG Jones, previously known as WH Smith before its rebranding last year, currently operates more than 450 stores with 4,700 staff (mostly in the UK).
But it is now set to close 150 of those stores as part of a “restructuring” plan which was approved by the High Court on Wednesday (July 1).
TG Jones to close 150 stores as part of “restructuring” plan
TG Jones said the store closures are part of a wider plan to rescue the business from insolvency.
The closures will affect hundreds of jobs across the UK, although the company has not confirmed the exact number of redundancies expected.
Chief executive of TG Jones, Alex Willson, said: “We welcome the court’s approval of our restructuring plan.
“This…