Uncertainty surrounds the future of TG Jones - formerly WH Smith - stores in Surrey and Hampshire after the company announced plans to close up to 150 shops nationwide.

It was business as usual this week at the TG Jones stores in Farnham, Alton and Haslemere, although no announcement has yet been made about which branches could be axed.

Some stores elsewhere in the country have already started holding closing-down sales, but Modella Capital has not confirmed whether any Surrey or Hampshire locations will shut.

A spokesperson for TG Jones said: “The survival of this iconic 234-year-old business is our imperative. No decisions have yet been taken on how this will impact roles, but we will aim to preserve as many jobs as possible.”

The spokesperson said the decision to close stores had “not been taken lightly”.

While they believed in “the strength of the core business”, the company had “experienced highly challenging trading conditions over the past year, along with many other high street retailers”.

“Weak consumer spending and cost-of-living pressures, combined with rising operating costs as a direct result of government policy and recent geopolitical events, have meant that the company as a whole has remained loss-making,” the spokesperson said.

They also said the company had been “forced” to change the company name from WH Smith, which had “negatively impacted consumer awareness, despite the fact that the proposition has improved”.

They said any potential store closures or role reductions will be subject to “appropriate consultation”, and “we are committed to engaging openly and constructively with colleagues and their representatives”.

“We want to be clear, however, that the plan may result in the closure of some stores and the loss of some roles,” the spokesperson added. “We recognise the impact this uncertainty will have on colleagues, their families and the communities we serve.”