Hobbycraft initiates clearance sales as part of its plan to close six stores this month. The arts and crafts retailer is in the process of restructuring its operations, having previously closed 12 other stores. The closure of the Wigan branch on September 4 marked the start of this month’s closures.
Following this, the Maidenhead and Chichester stores will permanently shut down on September 18, followed by the Crayford branch on September 20, King’s Lynn on September 22, and the Stafford store on September 28. These stores are currently offering clearance sales with discounts of up to 70% on selected items to clear out 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 CEO, Alex Wilson, expressed optimism about the changes, emphasizing the focus on enhancing the online business, introducing initiatives like Hobbycraft TV, and continuing to inspire creativity across the UK.
In a similar move, Poundland recently underwent a restructuring process approved by the High Court, following its acquisition by investment firm Gordon Brothers. Poundland faced financial risks and potential store closures, with plans to reduce its store estate to between 650 and 700 locations. Additionally, Poundland will be closing distribution centers in South Yorkshire and the West Midlands by early 2026.