Hobbycraft announces it will shut more stores

The retailer has flagged a further nine stores it will close, including ones in Southport, Stratford-upon-Avon and Bromborough to close this month, and six more to close next month.

Hobbycraft chief executive Alex Wilson said: “Very sadly, the strength of our offering has not made us immune from the challenges faced by the retail sector in recent years.

“Closing stores is always a last resort and this has been an extremely difficult decision.

“Making these changes is sadly a necessary action to enable us to keep our doors open to crafters up and down the country.”

These latest closures come after the retailer announced a restructuring back in April, which included the closure of nine stores in June.

Hobbycraft said at the time that its restructuring plans being back would lead to the 1,800 jobs and 99 stores being saved.

The retailer’s owner Modella Capital said: “Modella Capital is absolutely committed to bricks-and-mortar retail, at a time when the sector is coming under increasing pressure.

“[Modella] understands that high streets provide a vital service to consumers, are an essential source of employment and are key to the future success of local economies.

“Where necessary, Modella Capital has the skills and experience to restructure retailers that require it, in order to ensure they create profitable, ongoing businesses that will continue to serve communities and employ thousands of people across the UK.”