243
Fashion Jobs
L'OREAL GROUP
Head of Advocacy & Influence - l’Oréal Dermatological Beauty - Copenhagen
Permanent · COPENHAGEN
ESTÉE LAUDER COMPANIES
District Manager (Funen/Jutland)
Permanent · AARHUS
ESTÉE LAUDER COMPANIES
Handelselev Med Speciale i Digital Handel - E-Commerce
Permanent · COPENHAGEN
ZIZZI
Online Buyer Til Fashion
Permanent · BILLUND
SAMSOE
Logistik Koordinator
Permanent · GLOSTRUP
ONLY
Business Controller
Permanent · BRANDE
ONLY
International Sales Manager
Permanent · BRANDE
JACK & JONES
Konstruktører, Jack & Jones og Jjxx
Permanent · BRANDE
BEST SELLER
Environmental Programme Coordinator
Permanent · KØBENHAVN K
BEST SELLER
Product Owner - Data-Driven Solutions & ai
Permanent · AARHUS
SELECTED FEMME/HOMME
Sales Representative
Permanent · BRANDE
L'OREAL GROUP
Key Account Relationship Specialist
Permanent · COPENHAGEN
SAMSOE
Business Controller (Sql And Data Analytics Specialist)
Permanent · COPENHAGEN
ACE & TATE
Optometrist Copenhagen i NY Østergade
Permanent · COPENHAGEN
VERO MODA
Business Controller
Permanent · AARHUS
VERO MODA
Buyer | Curve
Permanent · AARHUS
ONLY
Demand Planner
Permanent · BRANDE
L'OREAL GROUP
Supply Chain Graduate - l’Oréal Luxe Product Division - Copenhagen
Permanent · COPENHAGEN
KERING EYEWEAR
Kering Eyewear - Lindberg Junior Trade Marketing Manager
Permanent · AARHUS
ESPRIT
Area Manager Multilabel Nordic Women
Permanent · COPENHAGEN
ZIZZI
IT Operations Manager
Permanent · BILLUND
TJX EUROPE
Buying Coordinator
Permanent · COPENHAGEN
Published
Jun 27, 2018
Download
Download the article
Print
Text size

Tofs plans 32 store closures after CVA

Published
Jun 27, 2018

It looks like speculation around the closure of some stores by The Original Factory Shop (Tofs) has been correct with news this week that its company voluntary arrangement (CVA) is likely to see more than 14% of stores being shut.


Tofs could close 32 of its stores



Reports suggest that a sizeable chunk of its branches will go with a plan to close 32 out of 224 shops.

The company’s owner Duke Street Capital has already negotiated a funding deal with lenders to provide £10 million, although this is dependent on Tofs achieving major cost reductions.

The discounter has been one of the casualties of the tough retail market in Britain during recent periods and saw its profits falling last year, despite turnover rising. Although operating profits rose, pre-tax profits fell by 33% to only £4.74 million on turnover of £190 million. And in the spring, its credit insurance cover was ended by Euler Hermes on the back of store closure news stories.

The planned store closures would see its staff bill being cut but would also help it reduce its rent and business property tax bills that have been a major problem for UK retailers lately.  

Tofs sells a wide variety of goods at low prices, including clothing, interiors ranges, DIY and toys.

Copyright © 2024 FashionNetwork.com All rights reserved.