Latest news with #TOFS
Scottish Sun
3 days ago
- Business
- Scottish Sun
The Original Factory Shop to shut more stores starting in weeks as up to 50% closing down sales launched
We reveal further details on a major restructuring taking place at The Original Factory Shop below SHUTTERS DOWN The Original Factory Shop to shut more stores starting in weeks as up to 50% closing down sales launched Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE Original Factory Shop (TOFS) is shutting more stores starting in weeks with up to 50% off closing down sales launched. The homeware, electricals and fashion retailer is pulling down the shutters on three branches in England and Wales. Sign up for Scottish Sun newsletter Sign up 1 Three more TOFS shops are shutting Credit: Alamy A shop in Ashbourne, Derbyshire has launched a giant closing down sale with up to 50% off stock. A second location in Bridlington, East Riding of Yorkshire, is shutting, as well as a third in Caernarfon, in Gwynedd, Wales. The Caernarfon store has also launched a clearance sale to shift any remaining stock. It is not clear what date the Ashbourne store will shut while it is understood the Bridlington and Caernarfon sites will close on July 20. Shoppers have reacted with sadness on Facebook after finding out the three stores will shut for good. One, commenting on the Bridlington closure, said: "God it's not been open long getting so sick of things closing down." A shopper discussing the Ashbourne store closure added: "What a shame, such value for money and a good range of merchandise." The latest round of closures comes after TOFS closed eight branches across England and Scotland just yesterday. Shops in Pershore, Shaftesbury, Kidwelly, Arbroath, Normanton, Chester Le Street, Peterhead and Perth all closed for good. These closures came after a branch in Milford Haven, Pembrokeshire, shut on Thursday (June 26). Britain's retail apocalypse: why your favourite stores KEEP closing down Four more stores in Staveley, Cupar (Fife), Middlewich and Heswall are set to close later this year as well. The Sun asked TOFS to comment. TOFS RESTRUCTURING EFFORT Private equity firm Modella bought The Original Factory Shop back in February and has since launched a restructuring effort to renegotiate rents at 88 stores. Modella is known for picking up struggling retailers, having also recently acquired Hobbycraft and WHSmith's high street shops. 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. However, it is not clear if the three branches in Ashbourne, Bridlington and Caernarfon are closing as part of this restructuring effort. HIGH STREET STRUGGLES TOFS is not the only retailer struggling on the high street amid the surge of online shopping and weaker household budgets. Hobbycraft shut nine stores on June 21 after launching closing down sales. Dobbies has also closed a slew of garden centres across the UK this year. The Centre for Retail Research is predicting more than 17,000 retail shops will shut in 2025 too. The centre has forecast a rise in closures after a hike to employer National Insurance contributions and the national minimum wage which took effect in April. 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 showed that more than half of companies planned to raise prices by early April. 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." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
The Sun
3 days ago
- Business
- The Sun
The Original Factory Shop to shut more stores starting in weeks as up to 50% closing down sales launched
THE Original Factory Shop (TOFS) is shutting more stores starting in weeks with up to 50% off closing down sales launched. The homeware, electricals and fashion retailer is pulling down the shutters on three branches in England and Wales. A shop in Ashbourne, Derbyshire has launched a giant closing down sale with up to 50% off stock. A second location in Bridlington, East Riding of Yorkshire, is shutting, as well as a third in Caernarfon, in Gwynedd, Wales. The Caernarfon store has also launched a clearance sale to shift any remaining stock. It is not clear what date the Ashbourne store will shut while it is understood the Bridlington and Caernarfon sites will close on July 20. Shoppers have reacted with sadness on Facebook after finding out the three stores will shut for good. One, commenting on the Bridlington closure, said: "God it's not been open long getting so sick of things closing down." A shopper discussing the Ashbourne store closure added: "What a shame, such value for money and a good range of merchandise." The latest round of closures comes after TOFS closed eight branches across England and Scotland just yesterday. Shops in Pershore, Shaftesbury, Kidwelly, Arbroath, Normanton, Chester Le Street, Peterhead and Perth all closed for good. These closures came after a branch in Milford Haven, Pembrokeshire, shut on Thursday (June 26). Four more stores in Staveley, Cupar (Fife), Middlewich and Heswall are set to close later this year as well. The Sun asked TOFS to comment. TOFS RESTRUCTURING EFFORT Private equity firm Modella bought The Original Factory Shop back in February and has since launched a restructuring effort to renegotiate rents at 88 stores. Modella is known for picking up struggling retailers, having also recently acquired Hobbycraft and WHSmith 's high street shops. 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. However, it is not clear if the three branches in Ashbourne, Bridlington and Caernarfon are closing as part of this restructuring effort. HIGH STREET STRUGGLES TOFS is not the only retailer struggling on the high street amid the surge of online shopping and weaker household budgets. Hobbycraft shut nine stores on June 21 after launching closing down sales. Dobbies has also closed a slew of garden centres across the UK this year. The Centre for Retail Research is predicting more than 17,000 retail shops will shut in 2025 too. The centre has forecast a rise in closures after a hike to employer National Insurance contributions and the national minimum wage which took effect in April. 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 showed that more than half of companies planned to raise prices by early April. 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."
Scottish Sun
23-06-2025
- Business
- Scottish Sun
The Original Factory Shop launches 80% off closing down sales ahead of shutting NINE stores this week
We reveal why thousands of high street shops are expected to close in 2025 below SALE AWAY The Original Factory Shop launches 80% off closing down sales ahead of shutting NINE stores this week – see full list THE Original Factory Shop is shutting nine stores this week as up to 80% off closing down sales are launched at a host of locations. The fragrance, homeware and fashion retailer is pulling down the shutters on shops across the UK between Thursday and Saturday. 1 The Original Factory Shop is closing nine stores this week Credit: Alamy One branch in Milford Haven, Pembrokeshire, will permanently close on June 26, while eight others will shut on June 28, including stores in Pershore, Worcestershire, and Shaftesbury, Dorset. Closing down sales have been launched at a number of the soon-to-be shut shops. Prices at the Milford Haven site have been slashed by 30% with discounts on drinks, perfume and footwear. The Pershore branch has also reduced prices on beauty and pet products, jewellery and more by up to 50%. The Normanton branch has also cut prices by up to 50%, while stock at the Middlewich store is selling for up to 80% off. Here is the full list of The Original Factory Shop (TOFS) branches set to close this week, as well as three others shutting from July: Milford Haven, Pembrokeshire - June 26 - June 26 Perth - June 28 - June 28 Chester Le Street, County Durham - June 28 - June 28 Arbroath, Angus - June 28 - June 28 Kidwelly, Carmarthenshire - June 28 - June 28 Pershore, Worcestershire - June 28 - June 28 Normanton, West Yorkshire - June 28 - June 28 Peterhead, Aberdeenshire - June 28 - June 28 Shaftesbury, Dorset - June 28 - June 28 Staveley, Cumbria - July 12 - July 12 Cupar, Fife - July 27 - July 27 Middlewich, Cheshire - TBC News of the branches closing this week has not been met well by shoppers and locals. Commenting on the Abroath closure, one customer said: "Another one bites the dust on the high street. "Going to be a ghost town soon enough." Britain's retail apocalypse: why your favourite stores KEEP closing down A second, commenting on the Pershore closure, said: "End of an era that is." A third, finding out about the Cupar branch shutting, said: "So sorry to see you're closing down." 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. 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 HIGH STREET STRUGGLES The Original Factory Shop is not the only retailer languishing across the high street. The retail sector has struggled for years, with thousands of shops closing across the UK. The Centre for Retail Research has described the sector as going through a "permacrisis" since the 2008 financial crash. In 2024 alone, more than 13,000 high street stores were shuttered for good, according to the Centre. It is also predicting the number of store closures to rise this year, blaming the increase on a hike to employer National Insurance contributions and the national minimum wage. RETAIL PAIN IN 2025 The British Retail Consortium predicted that the Treasury's hike to employer NICs would cost the retail sector £2.3billion. Research published by the British Chambers of Commerce earlier this year shows that more than half of companies planned to raise prices by early April. Separately, 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." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
The Sun
23-06-2025
- Business
- The Sun
The Original Factory Shop launches 80% off closing down sales ahead of shutting NINE stores this week
THE Original Factory Shop is shutting nine stores this week as up to 80% off closing down sales are launched at a host of locations. The fragrance, homeware and fashion retailer is pulling down the shutters on shops across the UK between Thursday and Saturday. 1 One branch in Milford Haven, Pembrokeshire, will permanently close on June 26, while eight others will shut on June 28, including stores in Pershore, Worcestershire, and Shaftesbury, Dorset. Closing down sales have been launched at a number of the soon-to-be shut shops. Prices at the Milford Haven site have been slashed by 30% with discounts on drinks, perfume and footwear. The Pershore branch has also reduced prices on beauty and pet products, jewellery and more by up to 50%. The Normanton branch has also cut prices by up to 50%, while stock at the Middlewich store is selling for up to 80% off. Here is the full list of The Original Factory Shop (TOFS) branches set to close this week, as well as three others shutting from July: 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 Cupar, Fife - July 27 Middlewich, Cheshire - TBC News of the branches closing this week has not been met well by shoppers and locals. Commenting on the Abroath closure, one customer said: "Another one bites the dust on the high street. "Going to be a ghost town soon enough." Britain's retail apocalypse: why your favourite stores KEEP closing down A second, commenting on the Pershore closure, said: "End of an era that is." A third, finding out about the Cupar branch shutting, said: "So sorry to see you're closing down." 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. 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 HIGH STREET STRUGGLES The Original Factory Shop is not the only retailer languishing across the high street. The retail sector has struggled for years, with thousands of shops closing across the UK. The Centre for Retail Research has described the sector as going through a "permacrisis" since the 2008 financial crash. In 2024 alone, more than 13,000 high street stores were shuttered for good, according to the Centre. It is also predicting the number of store closures to rise this year, blaming the increase on a hike to employer National Insurance contributions and the national minimum wage. RETAIL PAIN IN 2025 The British Retail Consortium predicted that the Treasury's hike to employer NICs would cost the retail sector £2.3billion. Research published by the British Chambers of Commerce earlier this year shows that more than half of companies planned to raise prices by early April. Separately, 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."
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Scotsman
18-06-2025
- Business
- Scotsman
UK discount chain shutting shops as Summer closures begin
Shoppers are snapping up big bargains as the retailer clears stock Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The Original Factory Shop is closing several branches this month, with more expected later 'Closing down' sales are already underway at affected stores, with major discounts across items Locations confirmed for closure include sites in Pembrokeshire, Worcestershire, and Cumbria Affected branches are offering up to 30% off clothing, footwear, toys, and household goods The closures are part of a wider restructuring plan to cut losses and renegotiate rents Several branches of a major discount department store chain are set to shut their doors this month, with more closures expected later in the summer. Shoppers have already spotted "closing down" sales at some Original Factory Shop locations, where stock is being sold off at heavily discounted prices. Advertisement Hide Ad Advertisement Hide Ad Photos of the sales have been shared on Facebook, with one post noting: 'Up to 11 TOFS stores are set to close this month, including sites across Worcestershire, Durham and Cumbria.' (Photo: David Potter/Construction Photography/Avalon/Getty Images) | Getty Images A spokesperson for the retailer 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.' The full list of confirmed store closures: Milford Haven, Pembrokeshire – closing June 26 Perth – closing June 28 Chester Le Street, County Durham – closing June 28 Arbroath, Angus – closing June 28 Kidwelly, Carmarthenshire – closing June 28 Pershore, Worcestershire – closing June 28 Normanton, West Yorkshire – closing June 28 Peterhead, Aberdeenshire – closing June 28 Shaftesbury, Dorset – closing June 28 Staveley, Cumbria – closing July 12 Middlewich – TBC Heswall – TBC Stores currently listed for sale: Advertisement Hide Ad Advertisement Hide Ad Nairn Market Drayton Troon Blairgowrie Castle Douglas The discount department store has cut prices across the board, with everything from clothing and gardening tools to toys now reduced. Shoppers will find clothing rails marked with discounts of up to 30% off, while the entire footwear range — including trainers and heels — is heavily discounted. In the men's section, shelves are well-stocked with polo shirts, gym vests, and t-shirts. Household essentials and cleaning products are also included in the sale, with 10% knocked off their usual price. And if you've got a sweet tooth, there are plenty of confectionery bargains to be found throughout the store. Advertisement Hide Ad Advertisement Hide Ad
