Hobbycraft to Close Three Stores with Discounts Up to 70%

Hobbycraft, the popular arts and crafts retailer, will close three additional stores this weekend as part of a significant business restructure. The closures include the Crayford store on September 20, followed by the King’s Lynn branch on September 22, and the Stafford location on September 28. To facilitate these shutdowns, the company is offering clearance sales with discounts of up to 70%, allowing customers to purchase items at reduced prices before the stores permanently close.

This move comes as Hobbycraft’s parent company, private equity firm Modella Capital, aims to secure the future of at least 99 stores and approximately 1,800 jobs across the business. The company has already closed a number of locations this year, including branches in Chichester and Maidenhead, which ceased operations on September 18.

Leadership Insights on the Future

Hobbycraft’s chief executive, Alex Wilson, expressed the challenges of closing stores but emphasized the necessity of these actions. “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,” Wilson stated. He highlighted the company’s investment in its online platform and initiatives like Hobbycraft TV to enhance customer engagement and creativity across the UK.

In light of these developments, the broader retail environment remains challenging. The recent collapse of beauty chain Bodycare into administration has drawn attention, with the company initially announcing the closure of 32 stores before extending that number to 62. Bodycare currently operates around 85 stores after these reductions.

Impact on Retail Landscape

Other retailers are also adjusting their strategies. Budget retailer Poundland was recently sold to private equity firm Gordon Brothers for just £1 and has announced plans to close 68 stores. However, the company revealed this week that 11 closures have been postponed, indicating a cautious approach to its restructuring.

Hobbycraft’s decision to close stores reflects broader trends in the retail sector, where many businesses are reevaluating their physical presence in response to shifting consumer habits. As the company prepares for these closures, it remains committed to serving hobbyists and crafters across the nation, reinforcing its focus on sustainable growth.

The full list of Hobbycraft closures includes:

– 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

As Hobbycraft navigates this transition, customers have the opportunity to take advantage of significant discounts while the company seeks to reposition itself for future success in a rapidly evolving market.