WHSmith buyer in talks to rescue Flying Tiger chain

Modella Capital bought and rebranded WHSmith’s high street arm to TG Jones last year.

Now, it wants to save Flying Tiger Copenhagen in a deal which would add around 900 stores, including 80 in the UK, to the firm’s growing retail empire, according to The Times.

Flying Tiger, which has a branch in Oxford’s Magdalen Street, sells affordable Scandi‑style homeware, stationery, toys and quirky gifts.

The company reported a turnover of more than £600m in 2024 but it underwent a restructure in 2025, injecting £160m.

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Its thought the deal will expand Modella’s already established reach in 30 European markets, with franchise partners in Israel, Philippines, and Vietnam.

It would mark the latest retail saving acquisition, adding to its string of high street stores, including Claire’s Hobbycraft, and The Original Factory Shop.

However, the private equity firm has been under scrutiny after Claire’s and The Original Factory Shop fell into administration, leading to job loses.

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This comes as there are now fears that as many as 60 Post Offices within TG Jones stores could be closed, including the Oxford store in Cornmarket Street.

However, the firm says these changes restructuring changes are needed to save the high street businesses.

Flying Tiger was founded in the 19080s when its founders began selling umbrellas at a flea market.

Its first retail store opened in Copenhagen in 1995.