British card & stationery chain with 450 stores launches ‘everything must go sale’ at ANOTHER branch closing for good

A BRITISH card and stationery chain has revealed plans to shutter another site, with a huge closing down sale launched. The chain, which has 450 sites across the UK has made a string of closures in the past few weeks. A huge closing down sale has been launched ahead of its closure Credit: Getty The chain, which has 450 sites across the UK has made a string of closures in the past few weeks. Credit: Getty TG Jones will close down its site on Eltham High Street, London. A photo of the store, shared on social media, shows that a huge clearance sale of up to 30% off has been launched. Sign up for the Money newsletter Thank you! Shoppers have a chance to score discounts on everything from cards, stationery, books and more as it slashes prices before closing for good. While many customers are looking forward to grabbing a bargain, others have been left saddened by the news. “Oh this is sad news,” said one shopper, while another branded it a “shame”. A third said the London high street would be a “ghost town”. The former WHSmith high street arm was sold last year and rebranded as TG Jones in a £76million shake-up aimed at saving the business. But trading at the stores is understood to be poor since the start of the year. Most read in Money Over the summer, the owner of TG Jones, Modella Capital, gained approval for a company-wide restructure. Now, up to 150 stores are at risk of closure, with rent set to be cut by 15 to 75 per cent on hundreds more. The brand will close a total of 19 stores this month, with further closures marked for October. Last Saturday saw the closure of its branch in Wrexham and sites in Redcar and Redhill closed on September 5. While WH Smith sold all its high street stores to Modella last year, it continues to operate its travel shops, including in airports and train stations, which was the more profitable part of the business. Comment now