WH Smith is set to close up to 150 of its high street stores following a court-approved restructure, with the retailer now operating as TG Jones under Modella Capital. This move involves writing off debts to suppliers and reducing rents for landlords as part of a turnaround strategy. In a separate development, Lloyds Banking Group will phase out the Halifax brand, migrating accounts to Lloyds branding and removing Halifax signage from 190 branches by early 2027 to streamline customer service. No branch closures or job cuts are anticipated as part of this transition.
WH Smith, now known as TG Jones and owned by Modella Capital, will close up to 150 of its high street stores after a court approved its restructure. The company's turnaround strategy includes writing off debts owed to suppliers and reducing rents for landlords. This significant closure plan impacts former WH Smith locations.
In a separate retail banking announcement, Lloyds Banking Group plans to discontinue the Halifax brand. This initiative will involve migrating existing Halifax customer accounts to the primary Lloyds branding. Additionally, Halifax signs will be removed from 190 branches by early 2027. The stated aim of this consolidation is to simplify customer service operations by unifying them under a single main consumer banking unit. Lloyds Banking Group has indicated that no branch closures or job reductions are planned as a consequence of this branding change.
WH Smith, now known as TG Jones and owned by Modella Capital, will close up to 150 of its high street stores after a court approved its restructure. The company's turnaround strategy includes writing off debts owed to suppliers and reducing rents for landlords. This significant closure plan impacts former WH Smith locations.