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.”
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.