Hobbycraft to Close Three More Stores, Offers Up to 70% Discounts

Hobbycraft is set to close three more stores this weekend, launching clearance sales with discounts of up to 70% as part of a significant business restructuring. The closures will begin with the Crayford location on September 20, followed by the King’s Lynn branch on September 22 and the Stafford store on September 28. This decision comes as the high street arts and crafts retailer aims to streamline operations amid ongoing challenges in the retail sector.

The company has already shut down at least 15 locations, including recent closures in Chichester and Maidenhead on September 18. According to the Mirror, these actions are part of a broader strategy to secure the future of at least 99 stores and preserve approximately 1,800 jobs across the business.

Hobbycraft is owned by private equity firm Modella Capital, which has emphasized the necessity of these closures to enhance operational efficiency. Chief Executive Officer Alex Wilson stated, “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.”

The retailer is focusing on investing in its online business and exploring innovative ways to engage with customers, including the launch of Hobbycraft TV. Wilson added, “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.”

The news of Hobbycraft’s closures echoes a broader trend in the retail sector, with other companies also facing significant challenges. Earlier this month, beauty chain Bodycare entered administration and announced the closure of 32 stores, later extending the number to an additional 30 locations. Following these closures, Bodycare will operate approximately 85 stores.

In related retail developments, budget retailer Poundland was recently sold to private equity firm Gordon Brothers for just £1. The company initially planned to close 68 stores but has since paused 11 of those closures. Poundland anticipates that as leases expire, the total number of stores will decrease to between 650 and 700, down from around 800 at the beginning of its restructuring.

As Hobbycraft prepares for the upcoming store closures, customers have a final opportunity to take advantage of significant discounts on arts and crafts supplies. The following locations are confirmed for closure:

– Crayford – closing September 20
– King’s Lynn – closing September 22
– Stafford – closing September 28
– Additional closed locations include: Bagshot, Basildon, Borehamwood, Bristol Imperial, Bromborough, Canterbury, Cirencester, Chichester, Dunstable, Epping Forest, Lakeside, Maidenhead, Southport, Stratford Upon Avon, and Wigan.

As the retail landscape continues to evolve, Hobbycraft’s strategy reflects a commitment to adapting and investing in future growth while navigating the challenges of the current market.