Up to 150 high street stores previously part of the WH Smith business face closure, with hundreds of jobs understood to be at risk.

TGJones attributed the significant restructuring to the "direct result of government policy and recent geopolitical events".

The firm stated that the planned closures are a necessary measure after 12 months of "highly challenging trading conditions".

These outlets were rebranded as TGJones following Modella Capital’s acquisition of 480 WH Smith stores last year.

In a statement provided to the Press Association on Wednesday, a spokesperson for the business emphasised that the decision to restructure "had not been taken lightly".

In a statement provided to the Press Association on Wednesday, a spokesperson for the business said the decision to restructure the company “had not been taken lightly”.

The shops were rebranded under the name TGJones after the purchase of 480 WH Smith stores last year (Alamy/PA)

The statement said: “While we continue to believe in the strength of…