Administrators for The Original Factory Shop are close to agreeing to sell a substantial number of the stricken variety discounter’s 137 stores.
The deal being discussed is for the brand and stores cleared of stock. It is expected to involve existing store staff being retained by the buyer, meaning it could save hundreds of the 1,180 jobs put at risk when TOFS entered administration in January.
An announcement is expected next week.
Read more: Where did things go wrong for The Original Factory Shop?
TOFS administrator Interpath declined to comment.
TOFS is owned by Modella Capital, also the owner of former WH Smith high street stores, rebranded as TG Jones.
The private equity firm bought TOFS in February last year and Claire’s Accessories in September. The two chains entered administration within days of each other in January, with Modella blaming a tough trading environment and government fiscal policies.
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