New TOFS owner plots store closures and rent talks with landlords

New TOFS owner plots store closures and rent talks with landlords

Modella Capital, which bought The Original Factory Shop just four weeks ago, is working with advisers at Interpath on a potential company voluntary arrangement, Sky News learns.

New TOFS owner eyes potential CVA and store closures

Modella Capital, the owner of The Original Factory Shop (TOFS), is reportedly working with Interpath Advisory on a potential company voluntary arrangement, according to Sky News.  Having acquired the retailer four weeks ago with no remaining bank debt, Modella is seeking to restructure the business and is currently “exploring options”.  It is understood that a CVA would see to the closure of underperforming TOFS stores, as well as the negotiatio…

New Owner Of TOFS Could Close Stores As Part Of Major Restructuring

Weeks after acquiring The Original Factory Shop (TOFS), Modella Capital is reported to be drawing up plans for a radical restructuring of the discount retailer. According to Sky News, the investment firm has called in advisers from Interpath to explore (more…) The post New Owner Of TOFS Could Close Stores As Part Of Major Restructuring appeared first on KamCity.

The Original Factory Shop owner plots store closures amid restructure - Retail Gazette

The Original Factory Shop owner Modella Capital is plotting a radical restructuring of the discount chain, just weeks after taking control. The private equity firm drafted in advisors at Interpath to explore options for the business, including a company voluntary arrangement (CVA), Sky News reported. Modella is thought to be considering a CVA to close underperforming stores and forcing through rent cuts on others. Related Story …