By Lauren Haughey,Levi Winchester
Copyright cambridge-news
Hobbycraft is set to shut another three stores starting this weekend, with reductions of up to 70% off launched. The high street arts and crafts retailer will close down its Crayford store this Saturday (September 20) followed by its King’s Lynn branch on Monday (September 22) and its store in Stafford next Sunday (September 28).
Hobbycraft is running clearance sales of up to 70% off to shift stock at these stores, meaning customers could secure a bargain before they shut for good. The firm is undergoing a major business restructure and has already shuttered at least 15 stores as part of this process.
This includes branches in Chichester and Maidenhead, which closed on Thursday this week (September 18), according to the Mirror. The company is owned by private equity firm Modella Capital, which said the closures are essential to secure the future of at least 99 stores and 1,800 jobs across the business.
Hobbycraft chief executive Alex Wilson reportedly said: “While it’s always tough to say goodbye to some of our stores – and this is always a last resort – we believe these changes will set us up for an even brighter future.
“We’re investing in our online business, exploring exciting new ways to reach customers such as Hobbycraft TV, and remain committed to inspiring creativity across the UK…
“Making these changes now is a necessary step to ensure we can keep our doors open to hobbyists and crafters up and down the country for years to come.”
This news also follows the collapse of beauty chain Bodycare into administration earlier this month. Initially, the retailer confirmed it was shutting 32 stores, but subsequently announced another 30 closures.
After these latest closures, Bodycare has around 85 shops remaining. The company, founded in 1970 on a Lancashire market stall by Graham and Margaret Blackledge, has been owned by Baaj Capital since 2021.
In other retail news, budget retailer Poundland was recently sold to private equity firm Gordon Brothers for just £1 and had announced plans to close 68 stores. However, in an update this week, the business revealed that 11 of these closures have been put on hold.
Poundland stated that its overall expectation remains that, as leases expire, the number of stores will decrease to around 650 to 700. At the start of its restructuring, Poundland had 800 branches.
Full list of Hobbycraft closures
According to the Mirror, these include:
Crayford – closing September 20 King’s Lynn – closing September 22 Stafford – closing September 28 Bagshot – CLOSED Basildon – CLOSED Borehamwood – CLOSED Bristol Imperial – CLOSED Bromborough – CLOSED Canterbury – CLOSED Cirencester – CLOSED Chichester -CLOSED Dunstable – CLOSED Epping Forest – CLOSED Lakeside – CLOSED Maidenhead -CLOSED Southport – CLOSED Stratford Upon Avon – CLOSED Wigan – CLOSED
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