Modella Capital (MC) is understood to be considering a CVA process for its latest acquisition, The Original Factory Shop (TOFS) which has c.180 stores across the UK. MC is working with Interpath to review options for the store chain which will reduce the number of stores TOFS trades from, as well as lowering rents on those it wishes to retain.
Modella Capital (MC) is also understood to be considering a restructure for another of its recent acquisitions, Hobbycraft and has hired advisors from FRP to explore potential options for the business including a CVA process. Hobbycraft trades from 124 stores and has around 2400 employees.
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