TG Jones backs down from clash with landlords in bid to save stores

cityam06-23

Modella Capital said the former WH Smith stores have struggled since renaming TG Jones has been forced to offer a string of concessions to its landlords after proposals to slash rent in a bid to avert...

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Jones backs down from clash with landlords in bid to save stores\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-23 19:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/tg-jones-has-been-forced-to-offer-a-string-of-concessions-to-its-landlords-after-proposals-to-slash-rent-in-a-bid-to-avert-the-collapse-of-hundreds-of-former-wh-smith-stores/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Modella Capital said the former WH Smith stores have struggled since renaming TG Jones has been forced to offer a string of concessions to its landlords after proposals to slash rent in a bid to avert...</p>\n\n<a href=\"https://www.cityam.com/tg-jones-has-been-forced-to-offer-a-string-of-concessions-to-its-landlords-after-proposals-to-slash-rent-in-a-bid-to-avert-the-collapse-of-hundreds-of-former-wh-smith-stores/\">Source 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Capital said the former WH Smith stores have struggled since renaming TG Jones has been forced to offer a string of concessions to its landlords after proposals to slash rent in a bid to avert the collapse of hundreds of former WH Smith stores.The retailer, formerly the high street arm of WH Smith, has convinced FTSE 100 landowner British Land to drop its opposition to its restructuring plan after a long-running tussle, City AM understands.TG Jones’s plan for survival includes proposals to shut around 150 stores and impose steep rent cuts on the landlords of the remaining shops.Commercial landlord British Land had led the opposition to these plans, dubbing them “fundamentally unfair” because owners of profitable stores would be forced to accept less rent.The retailer sweetened its deal last week to no avail, with a spokesperson saying the plans remained “unacceptable”.The retailer has also offered landlords a 50 per cent share of future earnings if it does not reinvest in the b","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4153":"铝","TG":"特里迪加","BK4090":"商品化工"},"translate_title":"TG Jones放弃与房东的冲突以拯救商店","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TG":1.5},"content_text":"Modella Capital said the former WH Smith stores have struggled since renaming TG Jones has been forced to offer a string of concessions to its landlords after proposals to slash rent in a bid to avert the collapse of hundreds of former WH Smith stores.The retailer, formerly the high street arm of WH Smith, has convinced FTSE 100 landowner British Land to drop its opposition to its restructuring plan after a long-running tussle, City AM understands.TG Jones’s plan for survival includes proposals to shut around 150 stores and impose steep rent cuts on the landlords of the remaining shops.Commercial landlord British Land had led the opposition to these plans, dubbing them “fundamentally unfair” because owners of profitable stores would be forced to accept less rent.\n\nThe retailer sweetened its deal last week to no avail, with a spokesperson saying the plans remained “unacceptable”. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBut TG Jones has secured a last-ditch concession from the landlord just days before its restructuring goes to the courts for approval later this month.TG Jones to pay back rent cutsBritish Land said on Tuesday that it has agreed to withdraw its objection to the proposals and will now abstain from voting on them, as first reported by Sky News.The landlord said that TG Jones has agreed to pay back rent reductions for some stores after three years and provide landlords with security to guarantee these payments.\n\nThe retailer has also offered landlords a 50 per cent share of future earnings if it does not reinvest in the business, British Land said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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