Two prominent UK retail entities, TG Jones and Poundstretcher, are currently pursuing court-sanctioned restructuring plans to mitigate severe liquidity deficits and avoid formal administration.

兩家英國知名零售企業 TG Jones 與 Poundstretcher，目前正尋求法院批准的重組計劃，以緩解嚴重的流動資金短缺並避免進入正式的接管程序。

The operational viability of TG Jones, formerly the high-street division of WH Smith and acquired by Modella Capital, is currently compromised by a reported £18.6 million loss between September 2025 and March of the current year. Modella Capital has attributed this decline to a confluence of macroeconomic pressures, including inflationary trends, increased employer national insurance contributions, and a reduction in consumer awareness following the mandatory rebranding from WH Smith. A critical component of the current financial arrangement involves a royalty agreement wherein TG Jones pays Modella Capital a percentage of net revenues for the use of the TG Jones trademark. Currently, £2.9 million in outstanding fees are being diverted to Aurelius, a finance firm that provided a £25 million loan. The proposed restructuring involves the immediate closure of eight outlets, the potential closure of an additional 150 stores, and significant rent reductions. Failure to secure creditor approval by late June may necessitate the appointment of administrators.

TG Jones 原為 WH Smith 的大街部門，後被 Modella Capital 收購。其經營可行性目前受到影響，據報在 2025 年 9 月至本年 3 月期間虧損 1,860 萬英鎊。Modella Capital 將此次下滑歸因於多種宏觀經濟壓力，包括通貨膨脹趨勢、雇主國民保險繳納增加，以及在強制從 WH Smith 更名後消費者認知度的下降。目前財務安排的一個關鍵部分涉及一份權利金協議，TG Jones 需向 Modella Capital 支付淨收入的一定百分比，以使用 TG Jones 商標。目前，290 萬英鎊的未付費用被轉交給提供 2,500 萬英鎊貸款的金融公司 Aurelius。擬議的重組方案包括立即關閉 8 家分店，潛在關閉另外 150 家門市，以及大幅調降租金。若在 6 月底前未能獲得債權人批准，可能需要委任接管人。

Parallelly, Poundstretcher, under the ownership of the US-based investment firm Fortress, is seeking judicial approval for a rent-reduction scheme to stabilize its financial position. Legal representatives have informed the High Court that the entity faces an imminent funding shortfall of £2.8 million due in late June, escalating to £9.7 million by late July. Should the restructuring plan fail to achieve sanction, the directors have indicated that filing for administration would be the only viable recourse, likely resulting in the immediate winding up of the company. The proposed turnaround strategy, developed in conjunction with Teneo, emphasizes the optimization of the store portfolio and a strategic shift toward established household brands to counteract the deterioration in performance observed since 2020.

與此同時，由美國投資公司 Fortress 持有的 Poundstretcher 正在尋求司法批准的減租方案，以穩定其財務狀況。法律代表已告知高等法院，該實體面臨即將到來的資金短缺，6 月底將缺口 280 萬英鎊，到 7 月底將增加至 970 萬英鎊。若重組計劃未能獲批，董事會表示申請接管將是唯一可行的手段，可能會導致公司立即清算。與 Teneo 共同開發的轉虧為盈策略，強調優化門市組合，並將策略轉向成熟的家用品牌，以應對 2020 年以來觀察到的業績惡化。

Both retailers remain dependent on the approval of creditors and the High Court to implement cost-reduction measures and avoid insolvency.

兩家零售商仍依賴債權人與高等法院的批准，以執行成本削減措施並避免破產。