The chain includes numerous former WH Smith branches across Oxfordshire. READ MORE: Major high street retailer could collapse“The execution risk is very considerable,” Mr Justice Hildyard said, indicating the £3m valuation of the company – compared with its acquisition value of about £40m only a year before – reflected the potential for high losses as well as high profits. TG Jones in Oxford (Image: Google Maps)The original owner of WH Smith continues to operate stores in airports, hospitals and railway stations, so Modella quickly rebranded the high street stores as TG Jones. “The plan protects the substantial core of the store estate and makes TG Jones a stronger, more sustainable business,” he said. Small suppliers, such as toy makers, were set to lose at least half the money owed to them by the former WH Smith high street chain under the restructure.