Dozens of TG Jones stores could be shut as owner Modella lines up restructuring plans at the WH Smith high street successor.
WH Smith's high street shops were rebranded as TG Jones after being sold to private equity firm Modella Capital, but sales have not picked up.
Now, Modella, which also owns struggling retailers The Original Factory Shop and the UK arm of Claire's, has drafted in advisers from Teneo to help plan major restructuring.
The Times reports the move is likely to lead to multiple shop closures, with 80 of its 450 branches labelled most at risk.
In addition to cutting costs, Modella is planning to expand TG Jones' Post Office and banking services and review pricing.
It comes as sales and footfall have declined over the last year with the new TG Jones name struggling to find traction with customers.
WH Smith high street stores were sold for £40million, with the WH Smith brand now used only in its stories in hospitals and travel hubs like airports and train stations.
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Companies reporting today
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