Modella Capital to Acquire Flying Tiger Copenhagen in Retail Deal
Private equity firm Modella Capital is set to acquire Danish retailer Flying Tiger Copenhagen from Danske Bank and Nordea. The deal adds Flying Tiger’s 900 stores across 30 European markets and Asian franchises to Modella’s portfolio, which includes TG Jones and Claire’s Accessories. Flying Tiger reported over £600 million turnover in 2024. Modella has a controversial history of restructuring or pushing acquired retailers into administration, including recent plans to close up to 150 former WH Smith stores.
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Modella Capital acquires Flying Tiger Copenhagen in latest high street retail deal
Private equity firm Modella Capital has acquired Flying Tiger Copenhagen from Danske Bank and Nordea, adding the quirky homeware and stationery retailer to its growing portfolio of high street brands. Flying Tiger operates around 900 stores globally, including 80 in the UK, and reported turnover of over £600 million in 2024. The acquisition follows Modella's controversial track record of buying retailers and then restructuring or pushing them into administration, including Claire's Accessories and the former WH Smith stores now rebranded as TG Jones. Modella is currently preparing to close up to a quarter of TG Jones' 480 locations in an aggressive restructuring. Modella managing director Joseph Price expressed optimism about Flying Tiger's growth potential, while Flying Tiger chair John Dueholm said the firm found the right long-term owner. The deal expands Modella's international reach into 30 European markets and franchise operations in Asia and Israel.
City AMModella Capital to Acquire Flying Tiger Copenhagen in Latest High Street Deal
Modella Capital, the private equity firm behind TG Jones and Claire's Accessories, is set to acquire Flying Tiger Copenhagen from Danske Bank and Nordea. The deal, expected to be announced imminently, would add Flying Tiger's 900 stores across 30 European markets and franchises in Asia to Modella's portfolio. Flying Tiger, known for quirky homeware and cheap stationery, reported turnover of over £600 million in 2024. The acquisition follows Modella's controversial track record of buying retailers and then restructuring or closing stores, including the recent wind-down of Claire's Accessories and plans to shut up to 150 former WH Smith stores now operating as TG Jones. Modella, owned by Hay Wain Group, has blamed weak consumer confidence and government fiscal policies for its aggressive restructuring moves.
City AMModella Capital to Acquire Flying Tiger Copenhagen in Latest High Street Deal
Modella Capital, the private equity firm behind TG Jones and Claire's Accessories, is set to acquire Flying Tiger Copenhagen from Danske Bank and Nordea. The deal, expected to be announced imminently, would add Flying Tiger's 900 stores across 30 European markets and franchises in Asia to Modella's portfolio. Flying Tiger, known for quirky homeware and cheap stationery, reported turnover of over £600 million in 2024. The acquisition follows Modella's controversial track record of pushing acquired retailers into administration, including Claire's Accessories and The Original Factory Shop. Modella also recently bought WH Smith's 480 high street stores for £40 million, rebranding them as TG Jones, but is preparing to shut up to 150 locations in an aggressive restructuring. The firm blames weak consumer confidence and adverse government fiscal policies for the difficulties.
City AMModella Capital to Acquire Flying Tiger Copenhagen in Latest High Street Acquisition
Modella Capital, the private equity firm behind the TG Jones brand, is set to acquire Flying Tiger Copenhagen from Danske Bank and Nordea. The deal, expected to be announced imminently, would add Flying Tiger's 900 stores across 30 European markets and franchises in Asia to Modella's portfolio. Flying Tiger, known for quirky homeware and cheap stationery, reported turnover of over £600 million in 2024. The acquisition follows Modella's controversial purchases of Claire's Accessories and WH Smith's high street stores, the latter of which were rebranded as TG Jones and are facing up to 150 store closures. Modella has faced criticism for pushing acquired retailers into administration or aggressive restructuring, blaming weak consumer confidence and government fiscal policies. The firm is owned by Hay Wain Group and chaired by retail investor Steve Curtis.
City AMModella Capital to Acquire Flying Tiger Copenhagen in Latest High Street Acquisition
Private equity firm Modella Capital is set to acquire Danish retailer Flying Tiger Copenhagen from owners Danske Bank and Nordea, marking its latest move on the British high street. Flying Tiger, known for quirky homeware and cheap stationery, operates around 900 stores worldwide including 80 in the UK, with a turnover exceeding £600 million in 2024. The deal would expand Modella's international reach across 30 European markets and franchises in Asia and the Middle East. Modella has a track record of acquiring and restructuring retailers, having previously bought Claire's Accessories (later pushed into administration) and WH Smith's 480 high street stores (rebranded as TG Jones), which now face up to 150 store closures. The acquisition comes after Flying Tiger underwent a restructuring in early 2025 that placed control with a coalition led by former executives and its bank lenders.
City AMModella Capital to Acquire Flying Tiger Copenhagen in Latest High Street Deal
Modella Capital, the private equity firm behind TG Jones and Claire's Accessories, is set to acquire Flying Tiger Copenhagen from Danske Bank and Nordea. The deal, expected to be announced imminently, would add Flying Tiger's 900 stores across 30 European markets and franchises in Asia to Modella's portfolio. Flying Tiger, known for quirky homeware and stationery, reported turnover of over £600 million in 2024. The acquisition follows Modella's controversial track record of pushing acquired retailers into administration or restructuring, including Claire's Accessories and the former WH Smith high street stores now branded as TG Jones. Modella is preparing to shut up to a quarter of TG Jones sites in an aggressive overhaul. The firm blames weak consumer confidence and adverse government fiscal policies for its restructuring moves.
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