Hobbycraft, the UK’s leading retailer for arts and crafts, has announced plans to close at least nine stores across the country after private equity firm owner Modella Capital launched an overhaul

At least nine stores are set to close(Image: Leicester Mercury / Chris Gordon)

The UK’s leading retailer for arts and crafts has announced plans to close at least nine stores across the country, which could see up to 126 jobs cut.

The Hobbycraft restructure has seen private equity firm owner Modella Capital launch the overhaul after buying the arts and crafts retailer in August 2024.

The restructuring is expected to result in redundancies across the Bournemouth HQ and distribution centre in Burton-on-Trent, the retail chain said, but it has not yet said how many jobs this will affect. The future of “a number of other stores” is still being reviewed but on Tuesday Hobbycraft confirmed nine stores will stop trading by mid-July, affecting between 72 and 126 jobs.

Hobbycraft to close at least 9 UK stores and over 126 jobs may be cut
Up to 126 jobs could be cut(Image: PA)

The stores set to close:

  • Bagshot, Surrey
  • Basildon, Essex
  • Borehamwood, Hertfordshire
  • Bristol: Imperial Retail Park
  • Canterbury, Kent
  • Cirencester, Gloucestershire
  • Dunstable, Bedfordshire
  • Epping Forest, Essex
  • Lakeside Shopping Centre, Essex

Hobbycraft chief executive officer Alex Wilson said the restructure will help to secure the future of at least 99 stores and 1,800 jobs across the business, reports BBC.

He said: “For many our stores are more than just arts and crafts supplies – they have become places for gaining crafting ideas and inspiration.

“Very sadly, the strength of our offering has not made us immune from the challenges faced by the retail sector in recent years.

“Closing stores is always a last resort and this has been an extremely difficult decision.

“Making these changes is sadly a necessary action to enable us to keep our doors open to crafters up and down the country.”

Hobbycraft to close at least 9 UK stores and over 126 jobs may be cut
Hobbycraft is an arts and crafts retailer(Image: Getty Images/iStockphoto)

Modella, which is also reportedly pursuing a restructuring at its The Original Factory Shop business, agreed to buy WHSmith’s high street business earlier this year.

Meanwhile, A luxury beauty retailer has been put up for sale and store closures could be on the cards in fresh fears for the future of the UK high street.

Space NK’s private equity owner, Manzanita Capital, has formally launched a sale process more than a year after appointing investment bankers to explore strategic options. Potential buyers have been approached in recent weeks and the business could end up being sold for anything between £300million and £400million.

Manzanita Capital, which has owned Space NK for more than 20 years, brought in bankers from Raymond James last April to oversee the auction process. However, the company isn’t expected to continue with a deal unless a decent offer materialises.

In 2018 Manzanita tested the market in a similar attempt led by Goldman Sachs, but this ended without a sale. And, despite some uncertainty, financial results of late suggest Space NK is in a good position. Read the story here.



By staronline@reachplc.com (Abigail Hunt)

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