Published by Retail Gazette
RADICAL RESTRUCTURING OF DISCOUNT CHAIN UNDERWAY
The Original Factory Shop owner Modella Capital is plotting a radical restructuring of the discount chain, just weeks after taking control.
The private equity firm drafted in advisors at Interpath to explore options for the business, including a company voluntary arrangement (CVA), Sky News
Modella is thought to be considering a CVA to close underperforming stores and forcing through rent cuts on others.
Interestingly Modella also has acquired Hobbycraft and the high street arm of WH Smith.