<p>WH Smith 之前的高街商店面临被法警突袭的风险，因为其新老板未能支付数百万英镑的税款。</p>
<p>拥有数百家商店并以虚构名称运营的 TG Jones 表示，因未支付欠地方政府的商业税款而被追讨一系列欠款。</p>
<p>这家资金紧张的零售商目前拖欠 340 万英镑的商业税款，以及 400 万英镑的供应商欠款和 840 万英镑的税务欠款。</p>
<p>拥有 TG Jones 的私募股权公司 Modella 表示：“最近几周，由于未支付商业税款的欠款，企业开始收到大量的催款信和传票。</p>
<p>“如果没有资金来支付这些未支付的商业税款或妥协这些金额……该企业面临地方政府寻求采取强制措施的风险。”</p>
<p>Modella 补充说，法警可能会尝试 “扣押货物” 或向公司提出解散申请。</p>
<p>这一争议在上周发布的文件中被披露，作为一项激进的财务重组计划的一部分，该计划将导致房东面临大幅削减租金的情况。</p>
<p>Modella 警告称，除非房东同意大幅降低租金或给予长期的租金假期，否则 TG Jones 将在 6 月底前耗尽现金。</p>
<p>该私募股权集团试图将 TG Jones 的困境归咎于由于税收上升和被迫更名导致的交易急剧下滑。根据收购条款，Modella 不被允许使用 WH Smith 的品牌。</p>
<p>然而，TG Jones 的提案及其未支付税款的行为激怒了议员和房东。</p>
<p>前就业部长、现任商业与贸易选择委员会成员 Justin Madders 对《每日电讯报》表示：“对许多人来说，这看起来就像投资者赢了，纳税人输了。</p>
<p>“如果工人失业，地方政府失去收入，公众将承担费用。”</p>
<p>他批评 Modella 试图通过一系列财务和商业协议来从其所有权中获利，包括向零售商收取数百万英镑的许可费，以使用完全虚构的 TG Jones 名称。</p>
<p>Madders 先生表示：“令人不快的是，尽管地方政府在追讨未支付的商业税款，而 HMRC 对数百万的延期税款给予了宽限期，但公司的重组文件显示，在更广泛的所有权结构中，使用新创建的 TG Jones 品牌名称的许可费却在不断增加。”</p>
<h2>房东被 ‘打击’</h2>
<p>房东对 Modella 的激进提案表示愤怒，该提案以 214 页的文件提交给债权人。</p>
<p>TG Jones450 家门店中超过 120 家商店的房东被要求签署租金假期协议，在此期间他们将连续三年没有收入。还有数百家面临 15% 到 75% 的削减。</p>
<p>一位房东表示她 “对 Modella 感到非常生气”。</p>
<p>“他们买下了这家企业，并以一个失去所有良好声誉的名称重新品牌化，” 这位房东补充道。</p>
<p>她表示，剩下的只是 “一家非常低劣的商店组合，卖着不知道什么的东西”。</p>
<p>“毫不奇怪，没人再想去那里，所以它就像掉下悬崖一样。”</p>
<p>另一位房东抱怨自己被 “打击”，并警告 Modella 面临可能的反抗，可能会被迫归还一些 TG Jones 商店的钥匙。</p>
<p>“像我们这样更积极的房东会尽一切努力收回这些商店，并将其重新出租给其他人。我们会与其他零售商做得更好，” 他说。</p>
<p>Madders 先生表示：“没人应该假装高街的情况轻松。全国各地的零售商都面临来自在线竞争和购物习惯变化的巨大压力。</p>
<p>“但 Modella 在这笔交易中是心知肚明的。私募股权公司专门收购困境企业并承担计算风险。这是他们的商业模式。”</p>
<h2>‘这绝对是丑闻’</h2>
<p>Knight Frank 的零售专家 Stephen Springham 声称，书籍和文具是 “去年表现最好的零售子类别，毫无疑问”。</p>
<p>“他们不能将责任归咎于市场条件。这绝对是丑闻，” 他补充道。</p>
<p>Springham 先生表示，这次收购 “可能是我们见过的私募股权公司榨取高街灵魂的最糟糕例子——我唯一能说比这更糟的是 BHS。”</p>
<p>TG Jones 的首席执行官 Alex Willson 上周告诉员工，公司预计将关闭多达 150 家门店，因为房东利用解除条款，允许他们在 43 天内寻求更好的交易。</p>
<p>警告即将裁员，Willson 先生表示：“我们绝对不能继续这样下去，否则未来将没有可行的业务。”</p>
<p>公司的债权人，包括房东，将在 6 月底投票决定是否支持重组计划，然后该计划将在 6 月 29 日提交给高等法院法官批准。</p>
<p>该重组计划由私募股权拥有的咨询公司 Teneo 主导。</p>
<p>Modella 拒绝发表评论。</p>

SMWH

<p>WH Smith 的前门店现在由 TG Jones 经营，因未支付总计 1580 万英镑的税款（其中包括 340 万英镑的商业税）而面临执法行动。私募股权所有者 Modella 正在承受财务重组的压力，房东被要求大幅削减租金。国会议员批评这种情况，认为投资者受益而纳税人受苦。零售专家对公司的表现表示难以置信，指出零售行业的韧性。TG Jones 预计如果财务状况没有改善，将关闭多达 150 家门店，并可能出现裁员，债权人对重组计划的投票定于 6 月底</p>

<p>WH Smith’s former high street shops risk being raided by bailiffs after its new owner failed to pay millions of pounds in taxes.</p>
<div class="lb-trans"><p>WH Smith 之前的高街商店面临被法警突袭的风险，因为其新老板未能支付数百万英镑的税款。</p>
</div><p>TG Jones, which owns hundreds of shops now trading under its made-up name, said it was being chased for a series of arrears stemming from overdue business rates bills owed to councils.</p>
<div class="lb-trans"><p>拥有数百家商店并以虚构名称运营的 TG Jones 表示，因未支付欠地方政府的商业税款而被追讨一系列欠款。</p>
</div><p>The cash-strapped retailer currently owes £3.4m in outstanding business rates, along with £4m to suppliers and a further £8.4m to the taxman.</p>
<div class="lb-trans"><p>这家资金紧张的零售商目前拖欠 340 万英镑的商业税款，以及 400 万英镑的供应商欠款和 840 万英镑的税务欠款。</p>
</div><p>Modella, the private equity company that owns TG Jones, said: “In recent weeks, the business has started to receive a significant number of demand letters and summonses as a result of the non-payment of business rates arrears.</p>
<div class="lb-trans"><p>拥有 TG Jones 的私募股权公司 Modella 表示：“最近几周，由于未支付商业税款的欠款，企业开始收到大量的催款信和传票。</p>
</div><p>“Without funding to pay these outstanding business rates or the compromise of these amounts... the business is at risk of local authorities seeking to take enforcement action.”</p>
<div class="lb-trans"><p>“如果没有资金来支付这些未支付的商业税款或妥协这些金额……该企业面临地方政府寻求采取强制措施的风险。”</p>
</div><p>Bailiffs could either attempt to “seize goods” or present the company with a winding-up petition, Modella added.</p>
<div class="lb-trans"><p>Modella 补充说，法警可能会尝试 “扣押货物” 或向公司提出解散申请。</p>
</div><p>The dispute was revealed in documents published last week as part of an aggressive financial restructuring plan that would see landlords face swingeing cuts to the rents they receive.</p>
<div class="lb-trans"><p>这一争议在上周发布的文件中被披露，作为一项激进的财务重组计划的一部分，该计划将导致房东面临大幅削减租金的情况。</p>
</div><p>Modella has warned that TG Jones will run out of cash by the end of June unless landlords agree to dramatically lower rents or take long payment holidays.</p>
<div class="lb-trans"><p>Modella 警告称，除非房东同意大幅降低租金或给予长期的租金假期，否则 TG Jones 将在 6 月底前耗尽现金。</p>
</div><p>The private equity group has sought to blame TG Jones’s woes on a sharp downturn in trading caused by a combination of rising taxes and a name change that was forced upon it. Under the terms of the buyout, Modella wasn’t allowed to use the WH Smith branding.</p>
<div class="lb-trans"><p>该私募股权集团试图将 TG Jones 的困境归咎于由于税收上升和被迫更名导致的交易急剧下滑。根据收购条款，Modella 不被允许使用 WH Smith 的品牌。</p>
</div><p>However, TG Jones’s proposals and its failure to pay tax bills have provoked the ire of MPs and landlords.</p>
<div class="lb-trans"><p>然而，TG Jones 的提案及其未支付税款的行为激怒了议员和房东。</p>
</div><p>Justin Madders, a former employment minister who sits on the business and trade select committee, told The Telegraph: “To many people, this will look like heads the investors win, tails the taxpayer loses.</p>
<div class="lb-trans"><p>前就业部长、现任商业与贸易选择委员会成员 Justin Madders 对《每日电讯报》表示：“对许多人来说，这看起来就像投资者赢了，纳税人输了。</p>
</div><p>“If workers lose jobs, councils lose revenue and the public is left carrying the cost.”</p>
<div class="lb-trans"><p>“如果工人失业，地方政府失去收入，公众将承担费用。”</p>
</div><p>He criticised Modella for seeking to cash in on its ownership through a series of financial and commercial agreements, including charging the retailer millions of pounds in licence fees for the right to use the entirely fictitious TG Jones name.</p>
<div class="lb-trans"><p>他批评 Modella 试图通过一系列财务和商业协议来从其所有权中获利，包括向零售商收取数百万英镑的许可费，以使用完全虚构的 TG Jones 名称。</p>
</div><p>Mr Madders said: “What sticks in the craw is that while councils are left chasing unpaid business rates and HMRC is giving breathing space over millions in deferred tax liabilities, the company’s own restructuring documents show millions accruing in licensing fees payable within the wider ownership structure for use of the newly created TG Jones brand name.”</p>
<div class="lb-trans"><p>Madders 先生表示：“令人不快的是，尽管地方政府在追讨未支付的商业税款，而 HMRC 对数百万的延期税款给予了宽限期，但公司的重组文件显示，在更广泛的所有权结构中，使用新创建的 TG Jones 品牌名称的许可费却在不断增加。”</p>
</div><h2>Landlords being ‘clobbered’</h2>
<div class="lb-trans"><h2>房东被 ‘打击’</h2>
</div><p>Landlords expressed anger at Modella’s drastic proposals, submitted to creditors in a 214-page dossier.</p>
<div class="lb-trans"><p>房东对 Modella 的激进提案表示愤怒，该提案以 214 页的文件提交给债权人。</p>
</div><p>Landlords of over 120 stores in TG Jones’s 450-strong estate are being asked to sign up for rent holidays, during which they will receive no income for three years. Hundreds more face cutbacks ranging from 15pc to 75pc.</p>
<div class="lb-trans"><p>TG Jones450 家门店中超过 120 家商店的房东被要求签署租金假期协议，在此期间他们将连续三年没有收入。还有数百家面临 15% 到 75% 的削减。</p>
</div><p>One landlord said she was “really p----d off with Modella”.</p>
<div class="lb-trans"><p>一位房东表示她 “对 Modella 感到非常生气”。</p>
</div><p>“They’ve bought the business and rebranded it with a name that’s lost all the goodwill that went with it,” the landlord added.</p>
<div class="lb-trans"><p>“他们买下了这家企业，并以一个失去所有良好声誉的名称重新品牌化，” 这位房东补充道。</p>
</div><p>She said what was left was “a really below-par store portfolio that sells God knows what”.</p>
<div class="lb-trans"><p>她表示，剩下的只是 “一家非常低劣的商店组合，卖着不知道什么的东西”。</p>
</div><p>“Unsurprisingly, nobody wants to go there any more so it fell off a cliff.”</p>
<div class="lb-trans"><p>“毫不奇怪，没人再想去那里，所以它就像掉下悬崖一样。”</p>
</div><p>Another landlord complained of being “clobbered” and warned that Modella was facing a possible rebellion that would see it forced to hand back the keys to some TG Jones shops.</p>
<div class="lb-trans"><p>另一位房东抱怨自己被 “打击”，并警告 Modella 面临可能的反抗，可能会被迫归还一些 TG Jones 商店的钥匙。</p>
</div><p>“The more proactive landlords, like us, will do everything they can to take them back and re-let them to someone else. We’ll do better with other retailers,” he said.</p>
<div class="lb-trans"><p>“像我们这样更积极的房东会尽一切努力收回这些商店，并将其重新出租给其他人。我们会与其他零售商做得更好，” 他说。</p>
</div><p>Mr Madders said: “Nobody should pretend the high street is in an easy position. Retailers across the country are under huge pressure from online competition and changing shopping habits.</p>
<div class="lb-trans"><p>Madders 先生表示：“没人应该假装高街的情况轻松。全国各地的零售商都面临来自在线竞争和购物习惯变化的巨大压力。</p>
</div><p>“But Modella went into this deal with its eyes wide open. Private equity firms specialise in buying distressed businesses and taking calculated risks. That is their business model.”</p>
<div class="lb-trans"><p>“但 Modella 在这笔交易中是心知肚明的。私募股权公司专门收购困境企业并承担计算风险。这是他们的商业模式。”</p>
</div><h2>‘It’s absolutely scandalous’</h2>
<div class="lb-trans"><h2>‘这绝对是丑闻’</h2>
</div><p>Stephen Springham, a retail specialist at Knight Frank, the property consultants, claimed books and stationery were “the best performing retail subcategory last year, bar none”.</p>
<div class="lb-trans"><p>Knight Frank 的零售专家 Stephen Springham 声称，书籍和文具是 “去年表现最好的零售子类别，毫无疑问”。</p>
</div><p>“They can’t blame market conditions. It’s absolutely scandalous,” he added.</p>
<div class="lb-trans"><p>“他们不能将责任归咎于市场条件。这绝对是丑闻，” 他补充道。</p>
</div><p>Mr Springham said the takeover was “probably the worst example we’ve ever seen of private equity sucking the soul out of the high street – the only one I would say was worse was BHS”.</p>
<div class="lb-trans"><p>Springham 先生表示，这次收购 “可能是我们见过的私募股权公司榨取高街灵魂的最糟糕例子——我唯一能说比这更糟的是 BHS。”</p>
</div><p>Alex Willson, the chief executive of TG Jones, told staff last week that the company anticipated as many as 150 store closures as landlords took advantage of break clauses allowing them to seek better deals with 43 days’ notice.</p>
<div class="lb-trans"><p>TG Jones 的首席执行官 Alex Willson 上周告诉员工，公司预计将关闭多达 150 家门店，因为房东利用解除条款，允许他们在 43 天内寻求更好的交易。</p>
</div><p>Warning of expected redundancies, Mr Willson said: “We absolutely cannot carry on as we are or there will not be a viable business in the future.”</p>
<div class="lb-trans"><p>警告即将裁员，Willson 先生表示：“我们绝对不能继续这样下去，否则未来将没有可行的业务。”</p>
</div><p>The company’s creditors, including landlords, will vote on whether to back the turnaround plan in late June before it will be put before a High Court judge for approval on June 29.</p>
<div class="lb-trans"><p>公司的债权人，包括房东，将在 6 月底投票决定是否支持重组计划，然后该计划将在 6 月 29 日提交给高等法院法官批准。</p>
</div><p>The restructuring plan is being led by the private equity-owned consultancy Teneo.</p>
<div class="lb-trans"><p>该重组计划由私募股权拥有的咨询公司 Teneo 主导。</p>
</div><p>Modella declined to comment.</p>
<div class="lb-trans"><p>Modella 拒绝发表评论。</p>
</div>

前 WH Smith 商店因未缴税款而担心遭遇法警