Negotiations over closure of Market Drayton branch of Original Factory Shop 'still ongoing' says company

The company's branch of the Original Factory Shop was put up for sale this week, less than two months after the firm's new owners announced a restructuring plan.

The Original Factory Shop was bought out by private equity group Modella Capital in March, and has been attempting to renegotiate rents at some of its stores as part of a rescue plan ever since.

Now, The Original Factory Shop says negotiations over the future of the store are set to continue - despite the building being listed by estate agents for let or sale- with a spokesperson for the firm stating that the closure of the store was currently "not confirmed".

"The Original Factory Shop (TOFS) recently confirmed that as part of a restructuring a number of its loss making stores will have to close," they said. 

"Closing stores is always a tough decision, and we are committed to keeping as many stores open as possible. This is, however, dependent on successful negotiations with landlords as we strive to build a sustainable and successful business for the future.

“We have already announced that two stores will close. Additionally, a small number of other stores are currently under review, with their continued operation subject to ongoing negotiations with landlords. These negotiations are commercially sensitive and so we cannot comment on which stores are affected.”

In a statement in April the firm said it was drawing up plans to renegotiate rents at 88 of the company's 178 stores as part of a restructuring process, potentially putting around 1,000 jobs at risk at the clothing chain.

The company operates three stores in Shropshire, with shops in Bridgnorth and Whitchurch also potentially affected by the proposals.