Former WHSmith Branch Shuts Its Doors

A major UK high street retailer is set to close one of its town centre branches, despite a rescue deal last year that helped preserve hundreds of stores nationwide.

The former WHSmith store in Ipswich town centre, now operating under the TGJones brand, will shut its doors on June 6 after the company said it could not reach a commercially viable agreement with the property’s landlord. The Post Office located within the branch is also expected to close permanently.

The closure comes just a year after investment firm Modella Capital acquired hundreds of former WHSmith high street stores, rebranding them as TGJones following the purchase of around 480 locations.

A spokesperson for TGJones said the company had worked to keep the store open but was ultimately unable to secure sustainable lease terms. The retailer added that efforts are being made to support employees affected by the closure and thanked the local community for its support. Customers will still be able to access products through the company’s online delivery service.

Earlier this year, plans emerged for a wider restructuring programme that could see up to 150 former WHSmith high street stores close. The move is understood to put hundreds of jobs at risk across the business.

According to Modella Capital, the restructuring follows a difficult year for the retail sector. The company cited weak consumer spending, ongoing cost-of-living pressures, increased operating expenses, and wider geopolitical challenges as factors affecting performance.

In a statement, the company said TGJones had remained loss-making despite confidence in the strength of its core business. It also noted that the transition away from the well-known WHSmith brand had reduced consumer recognition, despite efforts to improve the retailer’s overall offering.

The Ipswich closure highlights the continued challenges facing many traditional high street retailers as they navigate rising costs and changing consumer spending habits.