Recycling, upcycling and operating as a charitable foundation will be the new direction for One of a Kind Community Support.
Committee president and former chief executive officer Michael Ticehurst said he didn't want to limit One of a Kind services "to the brick and mortar" and wanted to expand.
"We're looking to expand the business and take on other recycling opportunities as they arise," Mr Ticehurst said.
"There's opportunities that come up in recycling all the time as people try to reduce their waste.
"It's about where the opportunities to make a dollar are, and a reasonable dollar at that. If we want to raise money for the community, it's not just about existing."
This will involve sending wool bales of donated clothes to Sydney, where they will then be cut up into rags to send overseas. It may also involve sending on donated clothes to more rural communities who do not have easy access to stores.
The business will also become a charitable foundation for Tamworth's community groups, including Multicultural Tamworth, Tamworth Hospital Auxiliary, OMNI Men's group, Tamworth Probus Club and the local Motor Neurone Support Group.
"The charitable foundation business model will allow us to financially support up to 10 key community groups from our recycling and upcycling operations," Mr Ticehurst said.
"As we increase our environmental footprint in recycling and upcycling, the generous donations from the community, we will now divest some of our financial gains to other groups who can further increase their own community support footprint."
One of a Kind went into administration in early October because there were concerns that "cash inflows [weren't] sufficient to cover future outflows".
With the exception of Tamworth, many stores closed including Gunnedah, Armidale and Narrabri.
There are no plans soon to reopen the others, but Armidale may re-open in two or three years, Mr Ticehurst said.
"It's a good community and, if you're going to be profitable, you've got to be in communities of 30,000-plus," he said.
"Armidale was very generous with their donations; the quality was very good."