The Original Factory Shop (TOFS) which was owned for 17 years by Duke Street, a private equity firm, has been sold to Hobbycraft owner Modella Capital. The retailer had posted a pre-tax loss of £1.7m for the year to 26 March ’23 on sales of £118m.
Several parties had explored the opportunity to acquire the 180-strong retail chain which employs around 1800 staff, including Baaj Capital.
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