High Court Approves Closure of Up to 150 Former WH Smith Stores
The High Court has approved a restructuring plan that will lead to the closure of up to 150 former WH Smith high street stores. The proposal, which involves writing off debts and cutting rent, was granted to TG Jones, the buyout owner, who admitted the former high street business was 'almost completely broken'.
The Story
Analyzing sources…
Source Diversity
Source Diversity
Moderate (37/100)Sources
TG Jones wins court approval to close up to 150 stores
Proposal follows buyout owner’s admission that WHSmith’s former high street business is ‘almost completely broken’
Read full article →Up to 150 former WH Smith stores to close as high court approves restructure
Restructuring plan involves writing off debts to suppliers and cutting rent for many landlords Business live – latest updates Up to 150 former WH Smith high street stores are to close after the high court approved a swingeing restructure that could affect thousands of jobs. The books to paperclips retailer, which has 450 stores and employs about 5,000 staff, was bought by the private equity firm Modella Capital, which also owns Hobbycraft, last year and rebranded TG Jones. Continue reading...
By Sarah Butler
Read full article →Up to 150 former WH Smith stores threatened by closure after restructuring approved
Lawyers for the retailer admitted the company was facing an £8 million shortfall this week if a judge did not sanction the plans
By Danny Halpin and Henry Saker-Clark
Read full article →
