Hobbycraft confirms more store closures
Hobbycraft has confirmed that it is closing nine further stores as it continues to execute its restructuring plan.
Three sites in Bromborough, Stratford-upon-Avon and Southport have already closed this month while six stores in Crayford, Chichester, Kings Lynn, Maidenhead, Stafford and Wigan will be shuttered in September.
Some of the stores have commenced closing down sales in a bid to clear stock. Exact closing dates for each shop have yet to be confirmed.
Alex Willson, Hobbycraft chief executive, said: “Very sadly, the strength of our offering has not made us immune from the challenges faced by the retail sector in recent years.”
Subscribe to TRBHe added: “Closing stores is always a last resort and this has been an extremely difficult decision.”
According to reports, Hobbycraft is currently in talks with landlords as it looks to secure rent reductions for several other sites.
News emerged in April that Hobbycraft was planning a strategic review of its business. This resulted in the earlier closure of nine unprofitable stores in June.
