Hobbycraft, the UK's cherished arts and crafts retailer, is grappling with a harsh reality: a sweeping restructuring that could see nearly a quarter of its stores close, putting hundreds of jobs at risk.
Acquired by private equity firm Modella Capital in August 2024, the chain is navigating a challenging retail landscape with a company voluntary arrangement (CVA) to cut costs and secure its future. From bustling high streets to local shopping centres, these stores have long been sanctuaries for creativity, making the closures a blow to communities and crafters alike.
