The Original Factory Shop is a
discount department store
A discount store or discounter offers a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient Logistics, distribution to kee ...
chain that was established in 1969. It currently operates over two hundred stores across the United Kingdom.
History
The Original Factory Shop was established in 1969 as part of Peter Black's retail network. Initially it sold soap manufactured by one of Black's factories. The chain now has 215 outlets and has plans to have 500 stores by 2020.
During 2010 to 2011, the chain expanded its warehouse and offices in Burnley by to provide for the future needs of the business.
In August 2011, the chain did not perform as well with profits reduced, due to economic conditions and massive investment in the chain, including many store openings, expansion of headquarters and warehouse and upgrading store equipment. The chief executive of The Original Factory Shop is former
Lloyds Pharmacy
LloydsPharmacy is a British pharmacy company. It has around 17,000 staff and dispenses over 150 million prescription items annually. It is owned by the Aurelius Group. It was formerly owned by the American McKesson Corporation.
Overview
The com ...
boss Tony Page, who replaced
Angela Spindler
Angela Spindler is a British businesswoman and the former CEO of N Brown Group Plc; she assumed the role in July 2013. She is also the chair of Remco, based in Manchester.
Career Early years
Spindler attended the Victoria University of Manche ...
in June 2013. In May 2010, rumours surfaced that the parent company Duke Street Capital put the chain up for sale for £200 million. These rumours were later denied by The Original Factory Shop and Duke Street Capital.
On 26 June 2018, it was announced that The Original Factory Shop is to close 32 stores due to falling profits, and the withdrawal of its credit insurance. The Original Factory Shop has also reported that it will be unsurprisingly starting a
company voluntary arrangement
Under UK insolvency law an insolvent company can enter into a company voluntary arrangement (CVA). The CVA is a form of composition, similar to the personal IVA ( individual voluntary arrangement), where an insolvency procedure allows a company ...
process.
The group's profits soared, post the
COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identif ...
, in the financial year 2021/22. Total revenue throughout the organization was £124.4 million, a growth of 250%. Actual profit being recorded at £8.5 million, up £2.4 million on the previous year.
Operations
The chain sell fashion, homewares, toys and personal care products. The products can be from the chain's own lines, branded products or cut label products from a high street chain or supermarket.
In the middle of 2010, The Original Factory Shop opened its online store.
References
External links
The Original Factory Shop Online Store Website
{{DEFAULTSORT:Original Factory Shop
Retail companies of the United Kingdom
Discount shops of the United Kingdom
Retail companies established in 1969
Companies based in Burnley