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The Original Factory Shop to Close Eight Outlets With 70% Off Sales

Modella Capital aims to build a sustainable business by cutting loss-making sites under a post-acquisition restructuring plan.

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Overview

  • Eight stores in Perth, Chester Le Street, Arbroath, Kidwelly, Pershore, Normanton, Peterhead and Shaftesbury will shut on June 28.
  • Customers can get 70% off all products in the eight closing shops as part of final clearance sales.
  • The chain will close a total of 13 branches this summer, with additional outlets in Staveley, Cupar and Middlewich set to follow in July.
  • Owner Modella Capital acquired the retailer in February and is negotiating rents at 88 of its 178 stores to reduce costs.
  • The private equity firm’s UK portfolio also includes WHSmith and Hobbycraft as it overhauls its high-street holdings.