Hobbycraft announces nine store closures with 126 jobs to be lost - full list
Closures come after the store was sold to Modella Capital in August last year
Arts and crafts store Hobbycraft has announced that nine of its stores will close by mid-July.
The overhaul of the stores is being launched by the store’s new owner Modella Capital, who bought the retailer in August last year.
The closures will also see up to 126 job losses as part of the retailer’s restructuring.
The retail chain has also said that the restructuring will result in redundancies across its head office and distribution centres in Bournemouth and Burton-on-Trent.
The retailer added that the restructuring of stores will look to help secure the future of at least 99 stores and 1,800 jobs across the business.
Hobbycraft chief executive officer Alex Wilson 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.”
These closures from Modella Capital comes after the company bought the WH Smith’s high street business earlier this year.
As part of this deal, Modella Capital are expected to rebrand approximately 480 WH Smith stores under the new name TGJones.
Which stores are 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