Latest news with #OriginalFactoryShop
The Sun
9 hours ago
- Business
- The Sun
Original Factory Shop launches closing down sale at another store – see the full list of locations at risk
THE Original Factory Shop is set to call time on another store with a number of sites at risk of closure. A branch in Middlewich is now the latest store to be marked for closure. 1 A closing down sale has been launched with up to 50% off some lines in the store. Locals have branded the closure in the Cheshire town as "another blow" for the high street. A concerned shopper warned there would be "nothing left" in the area as "everything is closing down". While another said: "Your store was a highlight of my days during a really tough time when I lived in Middlewich." And a third added: "This shop will be greatly missed." The exact date of when the store has not been confirmed yet. but The Sun will update this piece when we find out more. Up to 11 TOFS stores are already to set to close this month, including sites across Worcestershire, Durham and Cumbria . Meanwhile, another five stores across Nairn, Market Drayton, Troon, Blairgowrie and Castle Douglas have been placed up for sale. The Original Factory Shop has told The Sun that negotiations are ongoing with landlords - making it unclear whether these shops will remain open. It comes as part of a major restructuring carried out by new owner Modella Capital with a number of loss making stores having to close as result. Why are shops closing stores? A spokesperson told The Sun: "Closing stores is always a tough decision, and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." They added: "These negotiations are commercially sensitive and so we cannot comment on which stores are affected.' You can see the full list of store closures here: Milford Haven, Pembrokeshire - June 26 Perth - June 28 Chester Le Street, County Durham - June 28 Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Peterhead, Aberdeenshire - June 28 Shaftesbury, Dorset - June 28 Staveley, Cumbria - July 12 Middlewich - TBC The following stores are also up for sale: Nairn Market Drayton Troon Blairgowrie Castle Douglas What's been happening with The Original Factory Shop? Private equity firm Modella bought The Original Factory Shop back in February and has since launched a restructuring effort to renegotiate rents at 88 TOFS stores. Modella is known for picking up struggling retailers, having also recently acquired Hobbycraft and WHSmith 's high street shops. It is set to rebrand all WHSmith high street stores to TGJones, and has brought in advisers to look at potential options for Hobbycraft. At the end of April, Modella drew up plans to initiate a company voluntary arrangement (CVA) for TOFS. Companies often use CVAs to prevent insolvency, which could otherwise result in store closures or the collapse of the entire business. They allow firms to explore different strategies such as negotiating reduced rent rates with landlords. TOFS previously told The Press and Journal that a "number of loss-making stores will have to close" as part of the restructuring. It said at the time: "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." The Original Factory shop has already shuttered more than a dozen stores over the past 12 months. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Daily Mirror
3 days ago
- Business
- Daily Mirror
Major high street chain to shut 10 shops within weeks - full list of locations
The Original Factory Shop - which employs around 2,000 people - has been struggling in recent years, and as part of its plans to bounce back it is shutting its loss-making stores A major UK discount chain is closing 10 high street stores over the coming weeks as part of a restructuring plan. The Original Factory Shop - which employs around 2,000 people - has been struggling in recent years, and as part of its plans to bounce back it is shutting its loss-making stores. Overall, a total of 10 stores are closing between now and the end of July. Nine are closing towards the end of this month, with a final one to pull down the shutters in July. The retailer's Milford Haven branch in Pembrokeshire will be the first to close, closing for good on June 26. Just two days later, on June 28, eight more branches will close. The branches set for closure that day are in Perth, County Durham, Angus, Carmarthenshire, Worcestershire, West Yorkshire, Aberdeenshire, and Dorset. Finally, the Staveley branch in Cumbria is shutting for good on July 12. However, the chain's Nairn store is listed as "up for sale" and the company told the Sun newspaper that negotiations were currently ongoing with the landlord. The Original Factory Shop has not confirmed how many staff members will be impacted by the closures. Earlier this year, the retailer's owner Modella Capital launched plans to renegotiate rents at 88 stores through a company voluntary arrangement (CVA). This is an agreement between a business and its creditors that allows debts to be paid off over a fixed period of time. A spokesperson for The Original Factory shop recently told The Press and Journal: "The Original Factory Shop (TOFS) recently confirmed that as part of a restructuring a number of its loss-making stores will have to close. "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future. "We have already announced that two stores will close. Additionally, a small number of other stores are currently under review, with their continued operation subject to ongoing negotiations with landlords." Join Money Saving Club's specialist topics For all you savvy savers and bargain hunters out there, there's a golden opportunity to stretch your pounds further. The Money Saving Club newsletter, a favourite among thousands who thrive on catching the best deals, is stepping up its game. Simply follow the link and select one or more of the following topics to get all the latest deals and advice on: Travel; Property; Pets, family and home; Personal finance; Shopping and discounts; Utilities. Full list of The Original Factory Shops closing Milford Haven, Pembrokeshire - June 26 Perth - June 28 Chester Le Street, County Durham - June 28 Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Peterhead, Aberdeenshire - June 28 Shaftesbury, Dorset - June 28 Staveley, Cumbria - July 12
The Sun
26-05-2025
- Business
- The Sun
Major high street chain to close branch in weeks with closing down sale launched as EIGHT others to shut
A MAJOR high street chain is closing one of its branches in weeks as a closing down sale is launched and with eight other shops set to shut. The Original Factory Shop (TOFS) is pulling down the shutters on the site on June 28 with shoppers left gutted. 1 The location in Chester-le-Street, County Durham, will welcome in customers for the final time in weeks after opening two years ago. Shoppers can now get up to 30% off on a host of products including homeware, electricals and storage. In a post on Facebook, TOFS said: "It's with great sadness to announce, but the rumours are true! "The store will be closing its doors for the last time on June 28. "It's been a pleasure bringing you all the great deals over the last two years, getting to know our regulars. "We ask you to be mindful, respectful to the team as you can imagine we are all devastated, but please come say hi." News of the closure has not been met well by locals and customers, with one commenting: "I love this shop and the staff are amazing. "So sorry for you all." Another chipped in: "Absolutely gutted. I get loads of stuff in there. So sad about this." Meanwhile, a third added: "That didn't last long. What a shame." It comes as TOFS gears up to shut eight more stores weeks after saying it may be forced to shut branches and lay off staff. Branches in Abroath (Scotland), Kidwelly (Scotland), Pershore and Normanton are all set to shut permanently on June 28. Meanwhile, stores in Peterhead (Scotland) and Staveley will close in June and on July 12, respectively. Sites in Shaftesbury and Milford Haven (Wales), are also both shuttering, with closure dates yet to be revealed. List of The Original Factory Shop stores to close Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Chester-le-Street, County Durham - June 28 Peterhead, Aberdeenshire - June Staveley, Cumbria - July 12 Shaftesbury, Dorset - no date given Milford Haven, Pembrokeshire - no date given The Sun has reached out to TOFS to comment on the Chester-le-Street closure and find out if any other branches are shutting over the coming months and we will update this story when we've heard back. What's happening with The Original Factory Shop? TOFS was bought by Modella Capital in February which has since launched a restructuring effort to renegotiate rents at 88 of the retail chain's stores. Modella, a private equity firm, is known for taking on struggling retailers, having recently acquired Hobbycraft and WHSmith 's high street shops. For Hobbycraft, Modella brought in advisers to look at potential options including a CVA. Meanwhile it is set to rebrand all WHSmith high street stores to TGJones. Modella drew up plans to initiate a Company Voluntary Arrangement (CVA) for TOFS at the end of April. A CVA is a way of restructuring that means a business can continue trading while negotiating its debts, for example by cutting rent costs with landlords. A TOFS spokesperson previously told The Press and Journal a "number of loss-making stores will have to close" as part of the CVA. They continued: "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." The Original Factory shop has already shuttered more than a dozen stores over the past 12 months. These are the locations that closed in 2024: Brightlingsea, Essex Bodmin, Cornwall Chepstow, Wales Fakenham, Norfolk Harwich, Essex Mildenhall, Suffolk Padiham, Lancashire Taunton, Somerset Deal, Kent Haverfordwest, Wales Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
Scottish Sun
23-05-2025
- Business
- Scottish Sun
High street chain with 178 shops to close EIGHT stores as massive 50% closing down sale launched
Find out the full list of stores closing - is your local on there? CLOSING TIME High street chain with 178 shops to close EIGHT stores as massive 50% closing down sale launched A BARGAIN high street chain is closing eight shops starting in days and huge closing down sales have been launched. The Original Factory Shop (TOFS) is closing a raft of its stores on June 28, weeks after saying it would have to shut some "loss-making" locations. Advertisement 1 The Original Factory Shop has said it would have to shut some "loss-making" stores Credit: Alamy The discount chain has struggled in recent years and has had to look at restructuring. The Sun reported yesterday that five stores were closing in the coming weeks - but a further three have now announced they're shutting for good too. TOFS's stores in Arbroath, Kidwelly and Shaftesbury are the latest to say they are shutting up shop. The Arbroath store will be closing on June 28 and the building has been put up for sale or rent. Advertisement A post on the store's Facebook page reads: "We would like to take this time to thank all of our customers at the Arbroath store. "We have loved serving you and being part of the community over the last 2 years. We hope you will pop in to see us before we close." The store asked shoppers to be "respectful to staff" as the team are "devastated" by the closure. Before it disappears from the high street, the store is holding a huge 30% off clearance sale. Advertisement A huge yellow sign has been posted on the window encouraging shoppers to check out the discounts. Customers were devastated by the news of the store's closure, with one writing on Facebook: "That's a shame it's such a good shop." Beloved department store chain shutting more locations with clearance sales on now until final May 25 deadline Another said: "Arbroath's literally a ghost town, Arbroath was a thriving town years ago now there's going to be nothing left. "Great place to shop & good customer service it's really sad." Advertisement The Kidwelly store is also closing on June 28 after 15 years on the high street. It announced the closure "with a heavy heart" on its Facebook page. "We have loved being a part of this community, in fact, no we are proud!" it said. "Why not pop in and grab a bargain or to even say hello and goodbye. Advertisement "At this time we ask that you are considerate and respectful to our team as we are truly devastated." Disappointed customers said the closure was "sad news". One person responded to the post: "Sorry to read this, we were there last week. Hope you and the staff find other jobs." Another said: "Oh no ! Why or why. love that place and staff sad news this." Advertisement The Shaftesbury store also announced its closure on Facebook, although it didn't give an exact date for when it would shut for good. It posted on May 21 that it would be shutting in six weeks' time. "We are in a closing down sale. Lizzy Lee now 50% off. Just another great deal at The Original Factory Shop Shaftesbury," it said. The shop also said it had 20% off storage boxes and "loads more markdowns in store". Advertisement The Sun has reached out to TOFS for comment on the latest closure announcements. The other TOFS locations confirmed for closure in the coming weeks are Pershore, Normanton, Peterhead, Staveley and Milford Haven. Meanwhile the Nairn store is listed as up for sale, but TOFS has told The Sun that negotiations are ongoing with the landlord. Therefore it is unclear whether the shop will remain open. Advertisement You can see the full list of closures and dates below... Full list of locations closing Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Peterhead, Aberdeenshire - June Staveley, Cumbria - July 12 Shaftesbury, Dorset - no date given Milford Haven, Pembrokeshire - no date given What's been happening with The Original Factory Shop? The Original Factory Shop was bought by Modella Capital in February, and since then it has launched a restructuring effort to renegotiate rents at 88 TOFS stores. Private equity firm Modella is known for picking up struggling retailers, and has also recently acquired Hobbycraft and WHSmith's high street shops. For Hobbycraft, Modella brought in advisers to look at potential options including a CVA. Advertisement Meanwhile it is set to rebrand all WHSmith high street stores to TGJones. At the end of April, Modella drew up plans to initiate a company voluntary arrangement (CVA) for TOFS. Companies often use CVAs to prevent insolvency, which could otherwise result in store closures or the collapse of the entire business. They allow firms to explore different strategies such as negotiating reduced rent rates with landlords. Advertisement A TOFS spokesperson previously told The Press and Journal that a "number of loss-making stores will have to close" as part of the restructuring. They continued: "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." The Original Factory shop has already shuttered more than a dozen stores over the past 12 months. Advertisement These are the locations that closed in 2024:
The Sun
23-05-2025
- Business
- The Sun
High street chain with 178 shops to close EIGHT stores as massive 50% closing down sale launched
A BARGAIN high street chain is closing eight shops starting in days and huge closing down sales have been launched. The Original Factory Shop (TOFS) is closing a raft of its stores on June 28, weeks after saying it would have to shut some "loss-making" locations. 1 The discount chain has struggled in recent years and has had to look at restructuring. The Sun reported yesterday that five stores were closing in the coming weeks - but a further three have now announced they're shutting for good too. TOFS's stores in Arbroath, Kidwelly and Shaftesbury are the latest to say they are shutting up shop. The Arbroath store will be closing on June 28 and the building has been put up for sale or rent. A post on the store's Facebook page reads: "We would like to take this time to thank all of our customers at the Arbroath store. "We have loved serving you and being part of the community over the last 2 years. We hope you will pop in to see us before we close." The store asked shoppers to be "respectful to staff" as the team are "devastated" by the closure. Before it disappears from the high street, the store is holding a huge 30% off clearance sale. A huge yellow sign has been posted on the window encouraging shoppers to check out the discounts. Customers were devastated by the news of the store's closure, with one writing on Facebook: "That's a shame it's such a good shop." Beloved department store chain shutting more locations with clearance sales on now until final May 25 deadline Another said: "Arbroath's literally a ghost town, Arbroath was a thriving town years ago now there's going to be nothing left. "Great place to shop & good customer service it's really sad." The Kidwelly store is also closing on June 28 after 15 years on the high street. It announced the closure "with a heavy heart" on its Facebook page. "We have loved being a part of this community, in fact, no we are proud!" it said. "Why not pop in and grab a bargain or to even say hello and goodbye. "At this time we ask that you are considerate and respectful to our team as we are truly devastated." Disappointed customers said the closure was "sad news". One person responded to the post: "Sorry to read this, we were there last week. Hope you and the staff find other jobs." Another said: "Oh no ! Why or why. love that place and staff sad news this." The Shaftesbury store also announced its closure on Facebook, although it didn't give an exact date for when it would shut for good. It posted on May 21 that it would be shutting in six weeks' time. "We are in a closing down sale. Lizzy Lee now 50% off. Just another great deal at The Original Factory Shop Shaftesbury," it said. The shop also said it had 20% off storage boxes and "loads more markdowns in store". The Sun has reached out to TOFS for comment on the latest closure announcements. The other TOFS locations confirmed for closure in the coming weeks are Pershore, Normanton, Peterhead, Staveley and Milford Haven. Meanwhile the Nairn store is listed as up for sale, but TOFS has told The Sun that negotiations are ongoing with the landlord. Therefore it is unclear whether the shop will remain open. You can see the full list of closures and dates below... Full list of locations closing Arbroath, Angus - June 28 Kidwelly, Carmarthenshire - June 28 Pershore, Worcestershire - June 28 Normanton, West Yorkshire - June 28 Peterhead, Aberdeenshire - June Staveley, Cumbria - July 12 Shaftesbury, Dorset - no date given Milford Haven, Pembrokeshire - no date given What's been happening with The Original Factory Shop? The Original Factory Shop was bought by Modella Capital in February, and since then it has launched a restructuring effort to renegotiate rents at 88 TOFS stores. Private equity firm Modella is known for picking up struggling retailers, and has also recently acquired Hobbycraft and WHSmith 's high street shops. For Hobbycraft, Modella brought in advisers to look at potential options including a CVA. Meanwhile it is set to rebrand all WHSmith high street stores to TGJones. At the end of April, Modella drew up plans to initiate a company voluntary arrangement (CVA) for TOFS. Companies often use CVAs to prevent insolvency, which could otherwise result in store closures or the collapse of the entire business. They allow firms to explore different strategies such as negotiating reduced rent rates with landlords. A TOFS spokesperson previously told The Press and Journal that a "number of loss-making stores will have to close" as part of the restructuring. They continued: "Closing stores is always a tough decision and we are committed to keeping as many stores open as possible. "This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future." The Original Factory shop has already shuttered more than a dozen stores over the past 12 months. These are the locations that closed in 2024: Brightlingsea, Essex Bodmin, Cornwall Chepstow, Wales Fakenham, Norfolk Harwich, Essex Mildenhall, Suffolk Padiham, Lancashire Taunton, Somerset Deal, Kent Haverfordwest, Wales.
