Hobbycraft is preparing to shutter three additional stores this weekend, offering discounts of up to 70% off as part of the closure process.
The popular arts and crafts retailer will be closing its Crayford location on Saturday, followed by its King’s Lynn branch on Monday, and its Stafford store the following Sunday. The ongoing store closures are part of Hobbycraft’s strategic restructuring, which has already seen the closure of 15 stores, including outlets in Chichester and Maidenhead earlier this week.
The company, owned by Modella Capital, emphasized the necessity of these closures to safeguard the future of 99 stores and 1,800 jobs within the business. Hobbycraft’s CEO, Alex Wilson, expressed regret over the store closures but highlighted the move as essential for a brighter future. Wilson emphasized the company’s focus on enhancing its online presence, such as through Hobbycraft TV, to reach and inspire customers nationwide.
In a similar vein, Bodycare, a beauty chain, recently entered administration, leading to the closure of 62 stores. Meanwhile, Poundland, acquired by Gordon Brothers for a nominal fee, announced plans to close 68 stores but has since paused 11 closures. Poundland stated its intention to reduce its store count to around 650 to 700 as leases expire, down from the initial 800 branches at the start of the restructuring process.