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Court Sanctions TG Jones High Street Restructuring Plans Under Cramdown

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The Chancery Division sanctioned two restructuring plans for TG Jones High Street and related operating companies, using cross-class cramdown to bind a majority of dissenting landlord creditors to reduced rents. The court accepted evidence of underinvestment and retail pressures driving a projected £26.3m funding shortfall by August 2026, with administration offering only a fraction to unsecured creditors. Modella’s debt write-offs and new secured funding, plus restrictions on distributions during the restructuring, supported the retained

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