The Original Factory Shop (TOFS) is working with new advisors to explore its strategic options, which could include another attempt at a sale.
The discount chain’s private equity owner Duke Street Capital, which bought the retailer in 2007, is understood to have drafted in Teneo to handle to process, The Times reported.
It follows the news that TOFS was working with Deloitte last year to kick off a sale process.
A spokesman for the retailer told the outlet: “Like many retailers, the company continually reviews its outlook and is exploring a range of strategic options.
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“The business continues to trade as normal and is expected to perform well over the busy Christmas period,” they added.
It is understood that Duke Street has been attempting to shift TOFS for several years. It first began talking with prospective advisers in 2013 about a sale, which at the time was said to value the chain at more than £100m.
It later appointed investment bank Rothschild in 2016 to conduct a strategic review which was expected to lead to an auction.
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