Modella Capital, the private equity firm that bought WH Smith's high-street bookshop business last year, is reportedly planning a drastic restructure of TG Jones, according to the Sunday Times, which noted that the plan would involve closing up to 100 of the chain's 480 shops and "many of the landlords of the surviving outlets will face steep rent cuts."
The restructuring is expected to take the form of a "cram-down," which the Sunday Times described as a comparatively new and controversial measure that requires the consent of only one class of creditor. It also requires consent from a High Court judge, and to "achieve this, TG Jones will have to prove that the only alternative to its restructuring plan would be to put the business into administration [bankruptcy]--and that creditors would be no worse off if this were to happen," the Sunday Times added. "The prospect of a forceful restructuring of a high street stalwart so soon after it was seemingly rescued is likely to spark recriminations among TG Jones's landlords. Some are thought to have been expecting some form of restructuring since Modella took charge."
In March, Sean Toal stepped down from his role of CEO at TG Jones one year after the sale to Modella Capital, with Alex Willson succeeding him in the role.
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| Charlie Redmayne | |
Charlie Redmayne, former CEO of HarperCollins UK, has been named CEO of independent publisher Vinci Books and has bought a stake in the business, the Bookseller reported. Founded by entrepreneur Mark Smith in 2024, the publishing and technology company aims to "offer authors the best of independent and traditional publishing." It has published more than 2,000 titles and developed technology tools for publishers.
Redmayne, who was HarperCollins UK CEO for 12 years before leaving in October 2025, will report to the Vinci Books board of directors. Smith, who was the co-founder and executive director of the Welbeck Publishing Group and founder and CEO of both Zaffre and Quercus, will become executive chairman at Vinci Books.
Redmayne commented: "Throughout my career I have looked to embrace technology and digital change to create vanguard businesses. Vinci Books is doing precisely that. I really look forward to this opportunity to lead this excellent team into their next exciting phase of growth--and to delivering for our authors and our customers."
Smith added: "Charlie brings a rare combination of operational excellence, strategic vision and entrepreneurial instinct, which is exactly what Vinci needs as we scale. I founded this company to build something genuinely new, combining great publishing with world-class technology, and Charlie is the ideal person to lead us into the future."
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The three adult judges on the 2027 judging panel have been chosen for the inaugural Children's Booker Prize, which celebrates the best contemporary fiction for children ages 8-12, written in or translated into English and published in the U.K. and/or Ireland. The award is supported by AKO Foundation.
This year's adult judges are children's book author and screenwriter Frank Cottrell-Boyce, who is the inaugural chair of judges for the prize; actor, writer, and comedian Lolly Adefope; and children's bookseller Sanchita Basu De Sarkar, owner of the Children's Bookshop in Muswell Hill, London.
After the adult judges select an eight-book shortlist from publisher submissions, three child judges--who must be between eight and 12 years old and living in the U.K.--will then join them in choosing the winning book. The shortlist will be released on November 24 and the winner named on February 2, 2027.