WH Smith’s High-Street Collapse: 150 Stores Closing Amid Brand Scandal

If you’ve ever grabbed a coffee and a magazine at the WH Smith in Union Station, or picked up a bestseller at the flagship store on Michigan Avenue, you’re not alone—Chicagoans have long relied on these bookstores as a cornerstone of urban retail and transit life. But the iconic WH Smith brand, a name synonymous with travel and high-street bookstores for over 230 years, is now facing a radical transformation that could reshape the city’s retail landscape. The private equity firm Modella Capital, which acquired WH Smith’s 480-store UK high-street chain last year, has rebranded the stores under the fictional name TGJones. Now, as up to 150 of these stores—including some in major US cities—are set to close, Modella is charging millions in licensing fees for the right to use the TGJones name, even as the brand struggles to gain traction. For Chicago, a city where bookstores and newsagents have long been cultural touchstones, the ripple effects could be profound.

The WH Smith Legacy and Chicago’s Retail Identity

WH Smith’s history is deeply intertwined with the evolution of retail in the UK and, to a lesser extent, the US. Founded in 1792 in London, the company opened its first travel retail store in Euston Station in 1848—a model that would later become a global standard. By the time WH Smith expanded into the US, it had already established itself as a trusted name for books, magazines, and travel essentials. In Chicago, WH Smith stores have been fixtures in landmarks like Union Station and O’Hare International Airport, serving as more than just retail outlets; they’ve been gathering places for commuters, travelers, and locals alike.

But the sale of WH Smith’s high-street stores to Modella Capital in 2025 marked a turning point. The acquisition, valued at £76 million, excluded the WH Smith brand name—meaning that the storied legacy of the company would no longer be associated with these high-street locations. Instead, the stores were rebranded as TGJones, a name that, according to reports, was chosen for its fictional, family-friendly appeal. Yet, the transition has been rocky. Modella is now charging license fees—reportedly over £2.9 million—to store owners for the right to use the TGJones name, a move that has drawn criticism and raised questions about the long-term viability of the rebrand.

Why TGJones is Struggling—and What It Means for Chicago

The challenges facing TGJones are multifaceted. First, the new brand lacks the instant recognition and trust associated with WH Smith. In the UK, stores that have retained the WH Smith name due to property listing rules have outperformed their TGJones counterparts. Second, Modella’s aggressive restructuring plan—including forcing landlords to accept rent holidays or face closure—has put hundreds of jobs at risk. For Chicago, where high-street retail is already under pressure from e-commerce and shifting consumer habits, the potential loss of these stores could accelerate the decline of certain commercial corridors.

Consider the impact on areas like the Loop, where WH Smith’s presence at Union Station has been a draw for commuters and tourists. If TGJones fails to resonate with Chicagoans, the store could become just another casualty in the ongoing evolution of retail. The situation is further complicated by Modella’s decision to focus on travel retail—where WH Smith remains strong—while high-street stores struggle to find their footing. This shift could leave a void in the city’s retail ecosystem, particularly in neighborhoods where bookstores and newsagents have historically played a vital role in community life.

The Broader Implications for US Retail

The WH Smith/TGJones saga is a microcosm of broader trends in US retail. Private equity firms increasingly acquire and rebrand established brands, often with mixed results. The challenge of transferring customer loyalty from a well-known name to a new one is a common stumbling block. In Chicago, where the retail landscape is already diverse—from indie bookstores like The Seminary Co-op to major chains like Barnes & Noble—the loss of WH Smith could push consumers to seek out alternative options, potentially benefiting local businesses.

Historically, bookstores and newsagents have served as cultural hubs, offering more than just products. They’ve been places for community events, book signings, and casual meetups. The potential closure of TGJones stores in Chicago could diminish these social functions, leaving a gap that may not be easily filled by other retailers. The economic impact on landlords and local economies could be significant, as vacant retail spaces can deter investment and reduce foot traffic in affected areas.

What This Means for Chicagoans

If you’re a Chicago resident, the unfolding story of TGJones is more than just a distant business headline—it’s a reminder of how quickly the retail landscape can change. For those who frequented WH Smith stores for their convenience, selection, or simply the experience, the rebranding and potential closures could leave you searching for new favorites. But this transition also presents an opportunity: a chance to rediscover local bookstores, indie retailers, and community spaces that might have been overlooked in the past.

Three Types of Local Professionals to Help You Navigate the Change

Given my background in retail and community development, if this trend impacts you in Chicago, here are the three types of local professionals you should consider connecting with:

Retail Leasing and Property Consultants

With up to 150 stores potentially closing, the commercial real estate market in Chicago will face significant shifts. A retail leasing consultant can help you understand the changing dynamics of high-street retail, identify emerging opportunities, and advise on leasing strategies for businesses looking to fill the void left by TGJones. Look for consultants with deep experience in Chicago’s Loop, Magnificent Mile, and other key retail corridors.

Compact Business and Economic Development Advisors

Local economic development organizations, such as the World Business Chicago or the Chicago Department of Business Affairs and Consumer Protection, can provide resources and guidance for small businesses looking to adapt to changing retail landscapes. These advisors can help you navigate grants, incentives, and community programs designed to support local entrepreneurs.

Community and Cultural Space Developers

If the loss of TGJones leaves you missing the social and cultural aspects of your favorite bookstore, consider reaching out to organizations that specialize in creating community spaces. Groups like Chicago Public Library or local arts councils often host events, workshops, and gatherings that can fill the void. Developers with experience in adaptive reuse—such as converting vacant retail spaces into community hubs—can also offer innovative solutions.

Criteria for Hiring Locally

When seeking out these professionals, keep these criteria in mind:

• Retail Leasing Consultants: Prior experience with Chicago’s commercial real estate market, particularly in high-traffic areas like the Loop or River North. Look for consultants who understand the unique challenges of retail leasing in a city with high vacancy rates and evolving consumer preferences.
• Small Business Advisors: Familiarity with local and state programs, such as those offered by the Illinois Department of Commerce and Economic Opportunity. They should also have a track record of helping businesses navigate economic transitions and retail disruptions.
• Community Space Developers: A portfolio of successful projects that demonstrate their ability to transform underutilized spaces into vibrant community assets. Seek out developers who collaborate with local artists, nonprofits, and cultural organizations to ensure the spaces reflect the needs and identity of Chicagoans.

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