Clothing chain shuts UK high street store after plunging into administration | UK | News
The Melksham branch of the Original Factory Shop has closed (file photo) (Image: Getty)
A discount retailer closed another location after the incident. main street The chain plunged into administration. joint There were managers appointed To Original Factory Store (TOFS) in January.
While the TOFS online store closed, the chain’s 137 stores continued to operate while joint administrators explored options for the new store. businessIt was founded in 1969. But the retailer’s branch in Melksham, Wiltshire, welcomed customers back for the last time on Sunday, March 22.
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The original Factory Store was established in the late 1960s (Image: Getty)
In the latest post on Facebook, the TOFS Melksham branch team wrote: “Our final post. Thank you to everyone who has shopped with us over the last 19 years and to everyone who has worked with us.
We made so many friends that we will miss, I’m sure who will miss us. Thank you all again from Net, Carol, Emma, Kelly, Amanda, Annette and Jasmine x.”
Well-wishers heaped praise on the Melksham store’s staff in their responses to the post. One Facebook user shared: “You were amazing and will be truly missed; as we begin a new chapter, I hope it’s amazing for you all.”
Another wrote: “Good luck everyone. You have all been wonderful and thank you for your help and service over the years. It was a pleasure meeting you all.”
As well as Melksham, TOFS’s presence in Corsham ended four days ago, with staff in the Wiltshire town sharing a similar message on social media, thanking customers for their support and messages of support.
According to TOFS’s website, customers can enjoy discounts at remaining branches while stocks last; Here, prices can be discounted up to 50% due to their loyalty.
Management has put approximately 1,220 staff at The Original Factory Shop at risk.
Its owner, Modella Capital, which specializes in investment retention, said the chances of the company becoming profitable again were unrealistic. Modella blamed the tough climate on Britain’s high streets for the financial woes.
A number of high-profile firms have gone bankrupt so far this year, affecting thousands of jobs; these include American-inspired restaurant chain TGI Fridays, accessories retailer Claire’s and Revolution Bars owner The Revel Collective.
The number of company administrations in the UK rose by 30% year on year to 146 in February. According to figures from The Insolvency Service, 152 companies called for managers in January.
Experts said the cost shock caused by the conflict in Iran and skyrocketing oil prices could further fuel company failures, inflation will rise once again and interest rates are now expected to remain high for longer.
