The 480 high street WHSmith shops will be rebranded as TGJones shops, and will retain all 5,000 staff.

Modella Capital is a specialist retail private equity firm, headed up by managing director Joseph Price and was set up in 2022. It is already the owner of the Hobbycraft chain, which is mainly based out of retail parks and invested in the No Ordinary Designer Label Limited in 2023, part of the AARC group who are the UK licensee of Ted Baker.