Latest news with #TOFS
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.
Scottish Sun
20-05-2025
- Business
- Scottish Sun
Bargain retail chain with nearly 180 shops puts Scottish store up for sale ahead of closing three branches
Read on to find out when the branches close for good ON THE MARKET Bargain retail chain with nearly 180 shops puts Scottish store up for sale ahead of closing three branches A BARGAIN retail chain has put one of its Scottish stores up for sale ahead of closing another three branches. The Original Factory Shop (TOFS) is a discount department store chain with 178 locations across the UK. 2 The Original Factory Shop in Narin has been put up for sale (STOCK IMAGE) Credit: Alamy And the landlord at one Scottish store has listed the site for sale. The branch on Nairn's High Street is already listed for sale on the TSA Property Consultants website, suggesting it is likely to close soon. It comes a few days after the TOFS bosses revealed a branch in Peterhead, in Aberdeenshire, will pull the shutters down for the final time next month. A member of staff told the Press and Journal it is likely to be sometime in June. The unit has already been put up on the market for rent and "To Let" signs already appeared above the shop last week. The branch, located on Errol Street, used to house M&Co. The Original Factory Shop branch only opened in the Scottish town two years ago. It has now been listed by TSA Property Consultants. These developments come just weeks after TOFS' owner, Modella Capital, launched a restructuring effort to renegotiate rents at 88 of its stores. But in addition to the Peterhead closure, two more stores in England will also shut up shop despite the efforts. Beloved department store chain shutting more locations with clearance sales on now until final May 25 deadline Its site in Market Place, Staveley, Derbyshire is set to close permanently on July 12. And TOFS' store on Charles Street, Milford Haven, has also announced its closure with the launch of a 30% off closing-down sale. Its unclear when this store will pull the shutters down for the final time. A spokesperson for The Original Factory shop 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. What's happening at TOFS? Modella Capital, the new owner of the Original Factory Shop, drew up plans to initiate a company voluntary arrangement (CVA) at the end of April. Companies often turn to a CVA as a means to stave off insolvency, which could otherwise result in store closures or the collapse of the entire business. A CVA provides struggling firms with an opportunity to explore strategies to safeguard their future, such as negotiating reduced rent rates with landlords. For TOFS, this involves trying to renegotiate rents at 88 of its 178 stores. However, it's important to note that landlords don't have to agree to reduced rents. If an agreement cannot be reached, TOFS may be forced to close stores, which would unfortunately result in job losses. For now, the future remains uncertain. The retailer has also shuttered more than a dozen stores over the past 12 months. "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."
Scottish Sun
20-05-2025
- Business
- Scottish Sun
High street chain with 178 shops puts ANOTHER store up for sale ahead of three more branches shutting
The future of dozens more stores remains uncertain CLOSING TIME High street chain with 178 shops puts ANOTHER store up for sale ahead of three more branches shutting – see full list Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR discount store with 178 shops has put one site up for sale ahead of closing three more stores. The landlord of The Original Factory Shop (TOFS) in Nairn, Scotland, has listed the site for sale. Sign up for Scottish Sun newsletter Sign up 1 In February, TOFS was sold to private equity firm Modella Capital, which also owns Hobbycraft and WHSmith's high street stores Credit: Alamy The retail unit is already listed for sale on the TSA Property Consultants website, suggesting it is likely to close soon. This follows news that another TOFS location in Peterhead, Aberdeenshire, has been listed for rent. Staff at the Peterhead store told The Press and Journal that it is expected to shut in June. These developments come just weeks after TOFS' owner, Modella Capital, launched a restructuring effort to renegotiate rents at 88 of its stores. Despite these efforts, the retailer has confirmed that two more stores, in addition to the Peterhead location, will be closing in the coming weeks. Its site in Market Place, Staveley, Derbyshire is set to close permanently on July 12. The announcement, shared on the store's Facebook page, read: "With a heavy heart we regret to inform you that the rumours are true "The Original Factory Shop Staveley has served you for 20 years and will be closing its doors for the final time on the July 12." TOFS' store on Charles Street, Milford Haven, has also announced its closure with the launch of a 30% off closing-down sale. A post on Facebook read: "Closing down sale now on in store! Why are shops closing stores? "Up to 30% across all items." Its unclear when this store will pull the shutters down for the final time. A spokesperson for The Original Factory shop 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." While many bargain stores such as B&M and Home Bargains have seemed to profit from the cost of living crisis, The Original Factory store has struggled to stay afloat. Duke Street Capital, which had owned the company since 2007, attempted to offload the business in 2023 through Deloitte, but a deal never came to fruition. In February, TOFS was eventually sold to private equity firm Modella Capital, which also owns Hobbycraft and WHSmith's high street stores. List of stores closing Market Place, Staveley, Derbyshire - July 12 Charles Street, Milford Haven - date not set Peterhead, Aberdeenshire - date not set What's happening at TOFS? Modella Capital, the new owner of the Original Factory Shop, drew up plans to initiate a company voluntary arrangement (CVA) at the end of April. Companies often turn to a CVA as a means to stave off insolvency, which could otherwise result in store closures or the collapse of the entire business. A CVA provides struggling firms with an opportunity to explore strategies to safeguard their future, such as negotiating reduced rent rates with landlords. For TOFS, this involves trying to renegotiate rents at 88 of its 178 stores. However, it's important to note that landlords don't have to agree to reduced rents. If an agreement cannot be reached, TOFS may be forced to close stores, which would unfortunately result in job losses. For now, the future remains uncertain. The retailer has also shuttered more than a dozen stores over the past 12 months. 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. Hard times for discount stores Store closures are indicative of the harsh retail climate which has plagued high streets up and down the UK in recent years. Rising costs, coupled with shoppers tightening their purse strings, have placed pressure on businesses and damaged sales. Bargain retailers such as B&M and Home Bargains have performed better than others thanks to their low price point, but this has created rivalry. However, much like TOFS, Poundland is also grappling with challenges to remain competitive in the market. The discount retailer, owned by Pepco, enlisted advisory firm Teneo earlier this month to manage the potential sale of its business. A significant number of stores could be axed as part of the proposed sale, reports say. It comes after Pepco said it was looking at "all strategic options" to separate Poundland from its brand. The Polish group said it might turn its focus to its more profitable businesses in Europe. Pepco previously warned that hikes to employer national insurance contributions (NICs) and national minimum wage would significantly add to its costs. Chancellor Rachel Reeves said during her autumn statement last year that she would raise employers' NICs from 13.8% to 15%. She also announced a reduction to the threshold at which businesses start paying NICs from £9,100 to £5,000. It's estimated that the move will raise £25billion, costing the equivalent of around £800 per employee for businesses. Late last year, it was revealed that profits at Poundland also tumbled by £641million in the year to September, with bosses again blaming slow sales amid a poor outlook thanks to measures set out by Reeves. The firm is not the only business to have warned of these challenges. The move has been blasted by a number of high street stores including Greggs, Sainsbury's, Next and Halfords, which all said it could force them to raise prices and further bruise the industry.
