British stationery chain to close two branches TODAY following huge 50% off sale amid plans to shutter 150 sites forever

A BRITISH stationery chain is set to close two branches today amid plans to shutter up to 150 locations for good. It comes after “everything must go” signs have been spotted in store windows. The closures follow the news that the company has confirmed plans for a major restructuring. Credit: Getty TG Jones will close locations in both Redcar and Redhill this Saturday, September 5 Credit: Getty TG Jones will close locations in both Redcar and Redhill this Saturday, September 5. Closing down sales have been launched at its branch in Redhill, offering discounts of up to 50% off. Sign up for the Money newsletter Thank you! The news of the closure will come as a blow to shoppers who in the past described the store as “great” and praised the lovely staff. The brand already closed a site in Bath on September 1, and will close a total of 19 sites in September. Closures are also set to take place in October. It comes as 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 have been poor since the turn of the year. The owner of TG Jones, Modella Capital, gained approval for a company-wide restructure on July 1. Most read in Money 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. 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. Full list of TG Jones closures confirmed for September: Bath – Tuesday, September 1 Redcar – Saturday, September 5 Redhill – Saturday, September 5 Market Harborough – Saturday, September 12 Uckfield – Saturday, September 12 Cambridge – Monday, September 14 Swindon – Tuesday, September 15 Helston – Wednesday, September 16 Deal – Saturday, September 19 Basildon – Monday, September 21 Rustington – Wednesday, September 23 Clevedon – Saturday, September 26 Greenford – Saturday, September 26 Kenilworth – Saturday, September 26 Southend-on-Sea, Saturday, September 26 Exmouth – Monday, September 28 Frome – Wednesday, September 30 Cardigan – end of September Wells – sometime in September Comment now