The closure of up to 150 high street stores previously part of the WH Smith business is the “direct result of government policy and recent geopolitical events”, its owners have said. It is understood hundreds of jobs at TGJones are at risk as part of the restructuring plans the company said were necessary after the last 12 months of “highly challenging trading conditions”. The shops were rebranded under the name TGJones after the purchase of 480 WH Smith stores by Modella Capital last year. 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 statement said: “While we continue to believe in the strength of the core business, TGJones has experienced highly challenging trading conditions over the past year, along with many other brick-and-mortar retailers.…