The Original Factory Shop stores at risk as it prepares for CVA

The Original Factory Shop’s new owner Modella Capital is preparing to impose steep rent cuts for the discount chain’s store landlords.
The private equity owner is finalising its plans for a company voluntary arrangement (CVA) which could be unveiled within days, Sky News reported.
It is understood that significant store closures and job losses could form part of the restructuring plans for TOFS, as well as demands for two-year rent-free periods at some branches. Related StoryWHSmith: