Flying Tiger snapped up by Modella Capital amid fears for its future

UK private equity investor with reputation for hard-nosed restructuring says it is backing existing management

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Flying Tiger is the latest retailer to be snapped up by Modella Capital, the British investment firm which already owns the former high street arm of WH Smith, now called TG Jones.

The Danish company, known for its cut-price homewares and craft kits, operates about 1,000 stores worldwide, including 80 in the UK, where it employs more than 1,000 people.