UK retailer TG Jones’s restructuring plan was approved in court, allowing the company to avoid bankruptcy, at least for now. Under the plan, private equity owner Modella Capital will give the bookstore chain, which was formerly WH Smith, a £15 million loan, in addition to the £10 million loan they gave in April, the Independent reports. “We welcome the court’s approval of our restructuring plan,” TG Jones ceo Alex Willson said. “The plan protects the substantial core of the store estate and makes TG Jones a stronger, more sustainable business. We are incredibly grateful to all the colleagues, partners and […]
