Modella Capital
This coverage examines Modella Capital’s investments and strategic activity within the UK retail sector. Reporting focuses on its acquisitions of established retail brands—including Hobbycraft, The Original Factory Shop, Crafter’s Companion, and WHSmith’s high street division (now rebranded as TGJones)—as well as its approach to turnaround strategies, store portfolio optimisation, and leadership transitions. These insights are tailored for retail executives, investors, and professionals monitoring private equity’s role in shaping the future of UK high street and multichannel retail.
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Jul- 2025 -21 JulyHigh Street
Lakeland owner Hilco in race to acquire Claire’s
Hilco Capital, the high street investor behind Lakeland and a former backer of HMV and Superdry, is considering a takeover of Claire’s UK business, according to Sky News. Banking sources have told the outlet that Hilco Capital, who was a recent contender to acquire Poundland, is among the potential bidders…
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Jun- 2025 -30 JuneHigh Street
WH Smith cuts price of high street arm by £12m to close deal
WH Smith has officially completed the sale of its UK high street business to private investment firm Modella Capital for £40m, down from the previously expected £52m. Under the new terms, WH Smith will receive £10m upfront, with up to £20m in deferred payments linked to the business’s cash flow…
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13 JuneHigh Street
Activist investor builds stake in WH Smith
Activist investor Palliser has reportedly acquired close to a 5% stake in WH Smith, worth about £65m at its current share price, according to reports from Sky News. Palliser is thought to hold WH Smith’s management team, led by chief executive Carl Cowling, in high regard with the move coming…
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4 JuneHigh Street
WH Smith travel sales jump 7% ahead of high street arm sale
WH Smith has reported that its travel business revenues have increased 7% on a constant currency basis during the 13-week period to 31 May. The update follows WH Smith’s sale of its high street estate to Modella Capital on 28 March, meaning that it now identifies as “a pure play…
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May- 2025 -19 MayHigh Street
Poundland store closures ‘likely’ as sale nears completion
Poundland store closures are reportedly “likely” as Gordon Brothers, the former owner of Laura Ashley, has emerged as a frontrunner to take control of the group, according to The Times. Bids for the group, which is owned by Pepco and employs more than 16,000 people across the UK and Ireland,…
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7 MayNews-In-Brief
Today’s news in brief-7/5/25
Asda has appointed Rachel Eyre as its new chief customer officer, replacing David Hills. Eyre joins from Morrisons, where she served as chief customer and marketing officer, overseeing brand strategy, digital, and PR. With prior experience at Sainsbury’s and Barclays, she aims to reinforce Asda’s position as the UK’s lowest-priced…
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7 MayPeople Moves
TOFS appoints former commercial director Tim Bettley as MD
The Original Factory Shop (TOFS) has appointed experienced retail leader and its former commercial director Tim Bettley as its new managing director. Bettley was most recently commercial director at Poundland and Dealz, and before that operated in the same role at TOFS from 2015 and 2018, during which time the…
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6 MayNews-In-Brief
Today’s news in brief-6/5/25
Deliveroo has agreed to a £2.9bn takeover by US rival DoorDash, creating a combined entity operating in over 40 countries with annual orders exceeding £10bn. The deal, offering a 44% premium on Deliveroo’s share price, was approved by its board. DoorDash CEO Tony Xu highlighted the potential for expanded innovation,…
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6 MayHigh Street
WH Smith buyer faces year-long ban from mass store closures
The new owner of WH Smith’s high street chain has effectively been banned from enacting widespread store closures for at least 12 months following the acquisition of the chain in March. According to Sky News, WH Smith would have the right to cancel a year-long transitional services agreement (TSA) with…
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Apr- 2025 -28 AprilNews-In-Brief
Today’s news in brief-28/4/25
Mohsin Issa, co-founder of EG Group, has stepped down as CEO but will retain a significant minority stake and remain on the board as a non-executive director. Russell Colaco, the current CFO, will take over as CEO, bringing extensive international retail and investment banking experience. The move reflects EG Group’s…
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