How new owner became all powerful in ‘high stakes’ attempt to revive former WH Smith chain

Low-profile Modella has positioned itself as a key creditor, landlord and brand owner to struggling TG Jones as store closures and job cuts loom Shoppers at WH Smith were once accustomed to being offered cheap chocolate stacked high at the counter while buying their morning newspaper. Now, the chain’s former high street stores have themselves become the subject of a cut-price deal – as the low-profile investment group that snapped them up appears set to pay less than half of the original cash...

By Sarah Butler