A major department store in Sheffield is set to close with 'HUGE sale starting this month'
A major department store in Sheffield is set to close with a huge sale starting this month.
The Original Factory Shop announced in June that it would be closing 32 of its 224 stores after launching a CVA proposal.
Last year the discount retailer reported a profit drop of Â£3.1 million, despite turnover rising by Â£5 million to Â£190 million.
A Tofs spokeswoman told Drapers: “(The CVA approval promises to put) the business on a much stronger, financial footing to deliver the turnaround plan.
“While this is a tough measure, reflective of the broader retail environment, it is good news that TOFS will be in pole position to push ahead with their new journey to growth strategy.”
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The company's Stocksbridge store is one of the 32 set to close and will reportedly be shutting its doors in September.
A huge 50 per cent off everything sale is due to start at the store as it prepares to close its doors.