TGJones

WHSmith opted to sell the business in order to focus on its larger travel retail operation which accounted for 75% of its trading revenue and 85% of its profits in the last financial year. The WHSmith brand has been retained by the WHSmith group for its travel retail shops and other activities, meaning the high street business would need to be rebranded.^[6] Despite not being related to its travel business, the online card retailer Funky Pigeon was not included in the sale and was instead kept by WHSmith with intentions to sell it, with Card Factory being the eventual buyer. ^{[9] [10]} The online stationery business Cult Pens was also retained by WHSmith.^[11]

At the time the sale was agreed, there were 480 WHSmith high street stores.^[12][13]

Following concerns from the Communication Workers Union, representing Post Office and Royal Mail staff, that the sale may cause "postal deserts" given the large proportion of branches inside the WHSmith high street stores, Modella insisted that they planned to make few changes, retaining Post Offices and Toys "R" Us sections within shops.^[14]

In May 2025, Sky News revealed that WHSmith's 12 month long transitional services agreement with Modella Capital allowed for WHSmith to cancel the contract in the event of a company voluntary arrangement.^[15]

In late June 2025, before the sale to Modella Capital was officially complete, some WHSmith branches, such as the ones in Leominster, Ross-on-Wye, and Witney, applied for planning permission to change their signs and branding to the TGJones name.^[16][17]

On 30 June 2025, WHSmith completed the sale of the business at a reduced valuation of £40 million.^[5]

On 1 July 2025, the website and social media were officially launched, as well as the first branded store in Aylesbury. At the same time, the company announced the closure of its store (and Post Office franchise) in The Broadway, Bradford.^[18][19]

On 20 November 2025, the company announced that they would be opening around 36 new stores, they would be adding Hobbycraft and Claire's (both owned by Modella, latter under licence) concessions to some stores, joining their growing concession line-up which consists of Toys "R" Us and Post Office.^[20][21]

On 25 November 2025, the company said that it might sell its Greenbridge HQ and distribution centre to move to a different part of Swindon.^[22]

• Modella Capital official website