Future of discount chain with 187 shops is uncertain after failing to find a buyer
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THE future of one of Britain's biggest high-street discount chains remains uncertain after failing to find a buyer. The Original Factory Shop (TOFS), a beloved haunt for bargain-savvy Brits, is teetering on the edge of uncertainty. Despite its popularity, the discount retailer is struggling to secure a buyer, raising concerns about its future on the high street.
![[The Original Factory Shop is closing its branch in Haverfordwest, Wales]](https://www.thesun.co.uk/wp-content/uploads/2024/12/t58hjn-original-factory-shop-front-875226443.jpg?strip=all&w=960)
It's understood that Teneo, a strategic advisory firm, has been called in to explore all options, including another attempt to flog the chain. The brand currently trades from 187 stores across the UK. This isn't the first time TOFS has been on the market.
Last year, current owners Duke Street Capital, who've been at the helm since 2007, tried to sell up through Deloitte, but no deal was struck. A spokesperson for the retailer said: "The Original Factory Shop has been offering communities a great range of products at unbeatable value since 1969.
"Like many retailers, the company continually reviews its outlook and is exploring a range of strategic options. "The business continues to trade as normal and is expected to perform well over the busy Christmas period.". Back in 2013, the chain was valued at over £100 million, but recent financial results show a dip in both revenue and profits, ending the year to March 2023 with a pre-tax loss.
