Hobbycraft Initiates Store Closure Sales with Up to 70% Off
Hobbycraft is currently in the process of restructuring its business, leading to the closure of six stores this month. The arts and crafts retailer had already shut down 12 other stores as part of this restructuring. The store in Wigan was the first to close on September 4.
Following this, the stores in Maidenhead and Chichester will permanently shut down on September 18, Crayford on September 20, King’s Lynn on September 22, and Stafford on September 28. These stores have launched clearance sales with discounts of up to 70% on various products to sell off remaining stock.
Hobbycraft, owned by Modella Capital, stated that these closures are essential to safeguard the future of 99 stores and 1,800 jobs within the business. The company’s chief executive, Alex Wilson, expressed optimism about the changes, emphasizing investments in the online business and innovative ways to engage customers such as Hobbycraft TV.
Poundland, another retailer, recently underwent a similar restructuring, with 68 branches closing as part of its plan. The company, now owned by investment firm Gordon Brothers, expects its store count to decrease to between 650 and 700 as a result of these closures and expiring leases. Additionally, Poundland will close its distribution centers in South Yorkshire and the West Midlands by early 2026.