A major discount store in the UK is set to two more in the latest blow for the UK . The chain has 178 sites across the nation but will now shut two starting in just weeks.
It has been confirmed that The Original Factory Shop (TOFS) will close the doors to stores in Cumbria and Pembrokeshire. Closing down sales have been launched as the stores welcome customers for a final bargain. The latest closures come as Modella Capital, the owner of TOFS, announced a restructuring scheme to renegotiate rent at 88 of its stores, as reported by .
However, the store in Staveley, in Cumbria, will close permanently on Saturday, July 12. The store said in a post on Facebook: "With a heavy heart we regret to inform you that the rumours are true
"The Original Factory Shop Staveley has served you for 20 years and will be closing its doors for the final time on the July 12.
"We have loved being a part of this community, in fact, no we are proud! Why not pop in and grab a bargain or to even say hello and goodbye."
Meanwhile, the store in Milford Haven, in Pembrokeshire, has also announced its closure on Facebook. They have also launched a 30% off closing down sale.
The post on Facebook said: "Closing down sale now on in store! Up to 30% across all items." It has not been confirmed when the store will shut.
The UK high street has seen a number of major brands shut branches already this year. As well as shops, over 60 bank branches have already closed this year, including Lloyds, Barclays, Halifax and the Bank of Scotland.
Professor Joshua Bamfield, director of the Centre for Retail Research, told "Whilst the results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025."
Zelf Hussain, restructuring partner at PwC UK, said businesses face "significant challenges" in 2025. He explained: "While household finances are improving, consumer confidence remains cautious.
"Additionally, with substantial payroll cost increases and higher business rates taking effect in April, profit margins will remain under pressure, further straining high street retailers."