Major discount store with 178 shops confirms it will shut ANOTHER site as future of dozens of stores hangs in balance
The Original Factory Shop (TOFS) in Peterhead, Scotland, will pull down its shutters for the final time next month.
1
The closure comes just weeks after the retailer's owner, Modella Capital launched a restructuring effort to renegotiate rents at 88 of its stores.
The Peterhead store is likely to close in June, according to a store member, The Press and Journal reports.
The retail unit has also been listed for rent on property consultancy website TSA Property Consultants.
Shoppers and locals finding out the branch is shutting for good have been left gutted.
One said on Facebook: "I feel for the staff, they are always very nice."
Meanwhile, a third added: "Not long opened."
It comes as two other TOFS stores are set to shut - one in Milford Haven, Wales, and another in Staveley, Derbyshire.
The Staveley store will welcome in customers for the final time on July 12 while an exact closure date has not been confirmed for the Milford Haven branch.
A closing down sale has also been launched at the Milton Haven site with up to 30% off.
Britain's retail apocalypse: why your favourite stores KEEP closing down
What is happening at TOFS?
Modella Capital, a private equity firm which now owns TOFS, drew up plans to renegotiate rents at 88 of the company's stores in April.
The proposals come as part of a company voluntary arrangement (CVA).
A CVA allows businesses to explore opportunities to survive including negotiating rents with landlords.
Businesses usually take out a CVA to avoid having to close stores and prevent themselves from going bust.
History of The Original Factory Shop
FOUNDED in 1969 by the Black family in Keighley, the first shop was part of Peter Black's retail network.
Initially, it focused on selling surplus soap produced by one of Black's factories, offering local communities great value.
Over the years, TOFS evolved from its humble beginnings, expanding its product range to include clothing, homeware, beauty products, toys, and more.
It became known for offering a diverse selection of well-known brands at discounted prices.
The company grew steadily, reaching 185 stores by 2011 and expanding its headquarters and warehouse in Burnley to accommodate its increasing needs.
In 2007, the chain was acquired by private equity firm Duke Street Capital.
Since then, TOFS has undergone various transformations, including store closures and openings, as it adapted to the changing retail landscape.
In February 2025, Modella Capital, the owner of Hobbycraft, acquired TOFS.
However, if the CVA is unsuccessful, it could lead to TOFS stores closing and staff losing their roles.
Specifically, around 176 head office staff and warehouse employees working for TOFS could reportedly lose their jobs.
TOFS has closed more than a dozen stores over the past 12 months.
HIGH STREET STRUGGLES
UK high streets have been in decline for years due to the onset of online shopping.
High inflation in recent years has chipped away at shoppers' wallets and purses too.
A recent report from PwC noted a "continued move away from the high street" by retailers in 2024 with shops outside of town and city centres seeing less closures and more openings.
It said this was being driven by both leisure outlets and larger retailers shifting from high streets to retail parks which offer shoppers "greater convenience".
The Centre for Retail Research said more than 13,000 high street stores shut in 2024, with more to come in 2025.
The centre's analysis found that 13,479 stores, the equivalent of 37 each day, shut their doors for good over the calendar year.
Of these, around 11,340 independent shops were shut during the year - a 45.5% jump against 2023.
The centre estimates around 17,350 stores will shut in 2025 too, linking the rise to hikes in employer National Insurance contributions (NICs) and national minimum wage.
Since April, employers have had to pay NICs at a rate of 15%, up from 13.8%, starting from £5,000 instead of £9,100.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
BBC News
13 minutes ago
- BBC News
Former national water sports centre on Cumbrae to be auctioned off
A former national water sports centre on Cumbrae is to be auctioned facility has been closed since September 2020 and will now go under the hammer later this month with an asking price of £275, to transform the building into a luxury lodge with glamping pods was approved earlier this governing body Sportscotland, which owns the site, said it had not received any formal offers. The auction is being organised by Shepherd Chartered Surveyors in Ayr. Kevin Bell, partner at the company, said: "This is a unique opportunity to acquire a purpose-built facility with potential for conversion or redevelopment and we anticipate much interest in this lot."While in use the centre provided coaching in a range of water sports, across all levels, including dinghy sailing, cruising, windsurfing and sea hosted summer camps for children and teenagers each year, having been opened in over the years included double Olympic gold medal winner Shirley Robertson OBE, who often praised it for helping her sailing career. The facility comprises a principal building together with four residential chalets, workshops/stores and yardage. There is undeveloped land to the west, while the main building includes offices, a kitchen, gym, a sauna and classrooms. In March 2020 Sportscotland announced plans to close the centre following that summer's programme of activities, following a review of the emergence of Covid-19 then forced the summer plans to be scrapped, and the decision to close it was then confirmed in September of the courses for children offered there were then moved to Largs on the mainland. In March, North Ayrshire Council gave planning consent for 34 glamping pods, the creation of a kiosk and campervan Bell said interested parties should make their own planning inquiries with North Ayrshire Council. The auction will be held online on 21 August at 14:30.
The Sun
2 hours ago
- The Sun
UK ‘party island' home to Victorian FORT, rooftop bar & panoramic seaside views hits the market
A UK island complete with a five-bedroom home has hit the market for an eye-watering fee. The private patch of land also boasts a helipad and rooftop bar and was historically used to repel a French invasion. 5 5 The property - a Grade II listed 19th-century fort - is located off the coast of Pembrokeshire and it could be yours for £3million. But buyers will be rewarded with an eye-catching place to call home. It boasts underfloor heating, mezzanine bedrooms, a sea-view office, and a 10-metre hydraulic crane for lifting boats and supplies and has been listed by estate agency Strutt & Parker. "Thorne Island has been a landmark for hundreds of years," the listing reads. "The fort forming part of the Island was constructed between 1852 and 1854 as an outer defence to Milford Haven, at that time a large naval base. "It is one of twelve forts that were constructed around the entrance to Pembroke Dock as part of 'Palmerston's Haven defences' to protect against Napoleonic invasion. "The Island was sold for the first time in 1932 and has since been a hotel and a family home. "Thorne Island is a fantastic coastal landmark now offering something very different." The island sits a short three mile by sea from Milford Haven in south-west Wales. It can be reached either by boat or helicopter depending on your budget. The listing adds: 'Upon entering the property through the historic entrance gates, you are welcomed into [the] entrance hall leading into the large open plan reception, dining and sitting room with exposed traditional brickwork, vaulted ceilings, double aspect sash windows and wood burning stove. 'The kitchen is open plan with a modern, equipped kitchen and adjoining snug with wood-burning stove, exposed brick work and sea views.' 'Outside is a courtyard laid to lawn, providing a sheltered entertaining space with adjoining storage rooms. "Steps lead to the elevated grounds of the island which is home to the helipad and roof-top bar with inbuilt bar and games room.' The property's current owner, Mile Conner, bought the island in 2017, after watching a video about it. He has mostly used the island for parties, and told Bloomberg: "Thorne's been a great stress reliever. "It's just somewhere to go on boats and play with a crane and generators and fix stuff." If Thorne Island is out of your budget, then a picturesque private island off the coast of the UK is also available to buy - and it's just £108,000. The stunning Irish Islands of Dunnyneill, located on Strangford Lough, are home to range of gorgeous flora and fauna. Surrounded by blue waters and coated in lush greenery, the islands are located just 2.5 kilometres off the coast of Killyleagh, Ireland. Comprised of two islands, it was once a former seventh century trading emporium frequented by merchants. Owning the islands gives you the chance to buy a piece of history, as merchants from Russia, Germany, Iceland and France used to visit the island. The main island is described as being "formed from a small drumlin with a boulder clay core." 5
BBC News
2 hours ago
- BBC News
Ospreys agree St Helen's lease as Bridgend host 2025-26 games
Ospreys have agreed to finalise a long-term lease at St Helen's in Swansea with home games for the upcoming season being played in July 2024, Ospreys announced they would move from the Stadium to the smaller St Helen's ground during the 2025–26 Swansea rugby venue needs redevelopment and the initial plan was to play the first home game at St Helen's in December have now decided to play 11 scheduled home matches at the Brewery Field in Bridgend for the new season, with the first game staged in Swansea at the start of the 2026-27 announcement comes as the Welsh Rugby Union (WRU) is considering cutting the number of professional sides from four to two. Temporary home Ospreys chief executive Lance Bradley says the decision to move games to Bridgend for one season is because of a change in St Helen's redevelopment plans and a new permanent stand rather than Welsh rugby stresses fans should be reassured St Helen's remains the region's new permanent home and that they will start the 2026-27 season in Swansea."We have agreed to finalise the lease at St Helen's, which means we can move there in September," said Bradley."We plan to be there for the foreseeable future. Our plan is to still start the redevelopment in September and people will be able to see work is going on."We wouldn't start that work if we weren't confident we were going to be playing there."Bradley outlined why the original plan had altered."We've looked at the [St Helens] redevelopment and plans have changed as we've been doing them, principally around the permanent south stand," said Bradley."When we looked at the timing of how long that would take, it's six to eight months."We had a choice of being in for December with a partly finished ground or leaving it for the beginning of the following season. We have opted to do that second option."You get one chance to make a first impression. Our first impression will now be two stands, a terrace with a roof and permanent south stand with fantastic facilities."Bradley explained why they were relocating home games to Bridgend for the season rather than playing matches in Swansea."We looked at staying at the Stadium but unfortunately about half of our fixtures clash with Swansea City," said Bradley."Even if we had wanted to do that, it would have meant playing half our games there and half somewhere else."We have taken the decision it's better to have certainty of playing them in one place and Bridgend have been fantastically accommodating." Hoping for backing of Ospreys fans Bradley hopes Ospreys supporters back the decision for one season in Bridgend with season tickets now available."I hope there won't be a backlash and fans understand what we are trying to do is create a fantastic experience for them when they come to St Helen's," said Bradley."It's going to be two thirds of a season later than we had hoped, but hopefully it will make up for that by being so good when they arrive."Before that, we hope fans get behind us and support us at the Brewery Field."Bridgend have previously hosted individual Ospreys matches rather than a full campaign and facilities will need to be upgraded with more seating and disabled provisions improved."There's a big difference between one-off games and planning to be there for the whole season," said Bradley."We've had conversations with the Bridgend management and what we want to do is leave a legacy. "Rather than just pay rent, we'd like to help improve the facilities for rugby in Bridgend for the foreseeable future." Swansea support Plans to redevelop St Helen's were officially approved earlier this month when Swansea council's planning committee voted unanimously in one includes a new 3G pitch, fan zone and stands to accommodate up to 8,000 spectators, while phase two will add a training facility and says Swansea Council have backed the decision to delay their first game at St Helen's and are aware Welsh rugby's situation, with about £4m needed to redevelop the ground."They have been amazing and their support has made this possible," said Bradley."The council have made it clear we are talking about public money and there are safeguards you have to have in place."We agree and have had those conversations with them but the conversations we have been focusing on is the St Helen's redevelopment and bright future we hope we have got here. "It's an incredible place and every time you come here you can feel the history of the place. We feel humbled to be taking a leading role in the next part." 'Confident of Ospreys future' Ospreys and Scarlets have both announced ambitious plans at a time when there are major questions over their future existence. Ospreys' proposals for their new ground was followed by Scarlets revealing new investors. The WRU will provide their "optimal solution" in the next week which will be followed by a six-week consultation before a final decision which is expected in October."We will be working with them [WRU] to try and work out what the best way forward for Welsh rugby is," said Bradley."That's the big priority and our priority is what is best for Ospreys."Ospreys and Scarlets could be battling to be the west Wales side in the new order with Bradley remaining upbeat about the future. "We are the most successful region and our investment in St Helen's is a statement of genuine intent," said Bradley."It's one of the things that is always the case, people running clubs always know a little bit more about what is going on."I'm not implying I know what the answer is going to be, but I do feel confident about our future."Having professional rugby continuing in Swansea is our plan."Scarlets fans and local politicians objected to Swansea council passing the St Helen's plans despite the matter being in a different local authority. When asked whether it was a fight for survival between Ospreys and Scarlets, Bradley responded: "We try to control the controllables."My job is to make the Ospreys as good as I can and put us in the best possible position for a long-term future at St Helen's in Swansea."WRU chief executive Abi Tierney suggested if an Ospreys and Scarlets merger could not be agreed, the decision could be put out to tender."There are two key things for us, and we have to bear in mind the eye on the prize is making Welsh rugby better," said Bradley."How you achieve that with a team in the west of Wales, if that's what it ends up being, is slightly secondary to doing what is best for national and club teams."The means by which it happens isn't as important as the end result. As long as it's us, of course!"
