Hobbycraft is set to shut down three more stores beginning this weekend, offering discounts of up to 70% off. The arts and crafts retailer will close its Crayford store on Saturday, followed by the King’s Lynn branch on Monday, and the Stafford store on the following Sunday.
The ongoing restructuring of Hobbycraft has already led to the closure of at least 15 stores, including locations in Chichester and Maidenhead that closed earlier this week. The company, owned by Modella Capital, stated that these closures are crucial to safeguard the future of 99 stores and 1,800 jobs.
Hobbycraft’s CEO, Alex Wilson, expressed that while it is difficult to say farewell to some stores, these changes are vital for a brighter future. The company is focusing on enhancing its online presence and exploring innovative ways to engage customers, such as Hobbycraft TV, while maintaining its commitment to nurturing creativity across the UK.
In a similar retail trend, Bodycare recently went into administration, resulting in the closure of numerous stores. Poundland, under new ownership by Gordon Brothers, had plans to shut down several branches but has now postponed some closures. Poundland aims to reduce its store count to around 650-700 from an initial 800 as part of its restructuring efforts.