#quadrantshoppingcentre — Public Fediverse posts

TGJONES: Bailiff threat and tax debts cast fresh doubt over south-west Wales stores as WH Smith refuses to fund redundancy payments

The seven TGJones stores at risk across south-west Wales face fresh uncertainty after new details emerged about the dire financial state of the chain — including millions of pounds in unpaid taxes and a looming threat of bailiff action.

Seven branches in the region — including the Swansea Quadrant, Neath, Llanelli, Carmarthen, Bridgend, Tenby and Haverfordwest — were put at risk last week when owner Modella Capital announced plans to close up to 150 stores nationally as part of a major restructuring.

Now documents circulated to creditors have revealed that TGJones owes £8.4 million to HMRC, with a six-month payment agreement struck in April — and a further £3.4 million in business rates arrears. The Telegraph has reported that bailiffs are now a real threat if those payments are not maintained.

The revelations paint a stark picture of a business that has deteriorated rapidly since WH Smith sold its 480 high street stores to Modella Capital in March 2025 and rebranded them as TGJones.

The sale was originally valued at £76 million, but this was renegotiated sharply downward to £42 million to reflect what was described at the time as a “sharp deterioration in trading conditions.” In reality, WH Smith received just £10 million upfront, with the remaining £32 million contingent on the business’s future cash flows — money that now looks unlikely ever to materialise.

Modella has since approached WH Smith to ask whether it would fund enhanced redundancy payments for staff likely to lose their jobs if stores close. WH Smith had previously offered staff a more generous redundancy scheme than the statutory minimum. It declined to provide any further support.

The development is significant for workers at the seven south-west Wales branches, who now face the prospect of statutory redundancy only if their stores are among those confirmed for closure.

The restructuring Modella is planning is known as a “cram-down” — a relatively novel legal mechanism that requires the consent of only one class of creditors to proceed, rather than a majority. It will require approval from a High Court judge, with a hearing expected in late June.

Landlords are likely to face demands for severe reductions in rent as part of the plan. Those who refuse could simply take back the keys to their stores.

If the restructuring is approved, Modella has promised to invest £35 million in a turnaround plan it claims would return TGJones to profitability, with what it describes as a “considerable investment” in the stores that survive.

The creditor documents also reveal the existence of a mystery private individual — described as not being linked to Modella — who is owed £8 million by TGJones. No further details have been disclosed.

The crisis comes as Modella’s track record with other retail brands comes under scrutiny. Both The Original Factory Shop and Claire’s Accessories — two other chains acquired by the firm — have been placed into administration in recent months. Modella blamed the worsening conditions on the British high street and tax rises enacted by the Government.

An insolvency specialist quoted in earlier reporting warned that the pipeline of retail closures was “far from over,” pointing to the collapse in discretionary spending, stubbornly low high street footfall outside major city centres, and the impact of rising National Living Wage costs and higher employer National Insurance contributions.

Post Office has previously said it will update communities if any of its services — hosted within TGJones stores — are forced to relocate as a result of the closures.

The High Court hearing in late June is now the key date for anyone with an interest in the future of the south-west Wales stores — and for the staff who work in them.

Our TGJones coverage

Seven south-west Wales stores at risk as chain announces 150 closures
The full list of at-risk branches across the region.

Post Office promises to update communities if any branches are forced to relocate
What the closures could mean for Post Office services hosted within TGJones stores.

WH Smith sells high street stores — which will be renamed TGJones
How the chain ended up in Modella Capital’s hands in the first place.

#administration #Carmarthen #featured #HMRC #ModellaCapital #Neath #QuadrantShoppingCentre #redundancy #Swansea #SwanseaQuadrant #TGJones #WHSmith

Inside Swansea’s old Debenhams: stripped‑out photos show dramatic transformation as major revamp gathers pace

The 13 interior images, taken as contractors near the end of the strip‑out phase, show the building completely hollowed out: escalators gone, ceilings exposed, and entire floors cleared of fittings, walls and partitions. What was once a maze of cosmetics counters, clothing rails and cafés is now a vast, echoing shell waiting for its next chapter.

A team from Andrew Scott Ltd, working on behalf of Swansea Council, is now close to finishing the demolition‑style clear‑out. The move paves the way for the next stage — a full landlord fitout — allowing future tenants to move in far faster once final agreements are signed.

Plans include splitting the ground floor into two new retail units for nationally recognised brands, while the upper floors are being lined up for a major leisure operator. Talks with prospective tenants are said to be “advanced”, with announcements expected once permissions are secured.

The top of the former Debenhams escalators, now stripped back to bare concrete as redevelopment continues.
(Image: Swansea Council)A bilingual sign for lifts and stairs still in place inside the stripped‑out Debenhams building. (Image: Swansea Council)A surviving ‘Debenhams First Floor’ sign at the bottom of a stairwell, one of the few reminders of the store’s past. (Image: Swansea Council)A vast open floor inside the old Debenhams, cleared back to its concrete structure. (Image: Swansea Council)Another angle on the cleared retail floor, showing the scale of the redevelopment. (Image: Swansea Council)Concrete pillars line the empty interior as the building prepares for its next phase. (Image: Swansea Council)The base of the escalators inside the former Debenhams, now fenced off during construction. (Image: Swansea Council)Red steel girders exposed above the sealed Garden Street exit beside the Quadrant car park. (Image: Swansea Council)The ground floor stripped to concrete, with the escalators cordoned off as work progresses. (Image: Swansea Council)A side view of the escalators, revealing the cleared floor space stretching behind them. (Image: Swansea Council)A mini‑excavator sits in the middle of the stripped‑out floor as redevelopment continues. (Image: Swansea Council)A ‘Welcome to Swansea’ mural uncovered inside the building during the strip‑out phase. (Image: Swansea Council)

Cllr Rob Stewart, Swansea Council Leader, said:

“We know how much this building means to residents and city centre businesses, which is why we stepped in to secure it with support from the Welsh Government after Debenhams went into administration across the country.

The strip‑out works are now largely complete and our focus now is moving to a landlord fitout so prospective tenants can move quickly into their own fitout phase once agreements are finalised.

Bringing this key building back into use is a major step towards creating a vibrant, thriving city centre. Not only will it provide high‑quality retail and leisure spaces, but it will also generate jobs, increase footfall and encourage further investment.”

The stripped‑back photos show just how extensive the transformation has been — bare floors stretching the length of the building, exposed steelwork, and the last remnants of the old department store removed as the site prepares for its new identity.

Steve Rees, Operations Director at Andrew Scott Ltd, said:

“We’re proud to be involved in the regeneration of such a landmark building.

Projects like this play a vital role in revitalising city centres while supporting local jobs and skills.

We have worked closely with our local supply chain partners ensuring the benefits of the investment are felt across the community. Our expertise in large refurbishment projects will contribute to a new retail and leisure facility that will have lasting benefits for Swansea.”

The Debenhams overhaul is the latest in a string of major city‑centre revivals, following the restoration of the Palace Theatre, the 71/72 Kingsway development — now 80% let — and the opening of Y Storfa, the new community services hub inside the former BHS building.

With the interior now stripped back to its bones, the next few months will determine how quickly the old Debenhams can reopen its doors — and which new names will take over one of Swansea’s most iconic retail spaces.

Related stories from Swansea Bay News

Carmarthen’s old Debenhams reborn as Atriwm – but opening pushed back to 2027
A major redevelopment in Carmarthen hits delays as the former Debenhams prepares for a new future.

Council announces three businesses to move into former city centre Debenhams
Swansea Council confirms the first wave of new tenants set to take over the landmark building.

New tenant for city Debenhams teased as new window vinyl artwork unveiled
Fresh branding appears on the building’s windows, hinting at the next big name moving in.

#AndrewScottLtd #Business #construction #Debenhams #featured #Quadrant #QuadrantShoppingCentre #refurbishment #renovation #retail #Swansea #SwanseaCouncil #SwanseaQuadrant