Hobbycraft is holding clearance sales in preparation for the closure of six of its stores this month. The arts and crafts retailer is currently reorganizing its operations, which has already led to the shutting down of 12 other Hobbycraft stores. The first closure this month was the Wigan branch on September 4.

Following this, the Maidenhead and Chichester stores will permanently close on September 18, with the Crayford branch to follow on September 20, King’s Lynn on September 22, and the Stafford store on September 28. These stores have initiated clearance sales offering discounts of up to 70% on select items to clear out remaining stock.

Hobbycraft, owned by private equity firm Modella Capital, stated that these closures are essential to ensure the future sustainability of approximately 99 stores and 1,800 jobs within the business.

Hobbycraft CEO Alex Wilson expressed confidence in the restructuring, emphasizing the focus on enhancing the online business, introducing innovations like Hobbycraft TV, and maintaining the commitment to fostering creativity across the UK. Wilson added that these strategic changes are crucial to sustain the company’s presence and support craft enthusiasts nationwide.

In a similar vein, Poundland recently received approval from the High Court for its restructuring plan after being acquired by investment firm Gordon Brothers for £1. The deal included the closure of 68 Poundland branches, as the discount retailer faced a financial risk that necessitated urgent action. Poundland had around 800 stores before the acquisition.

Poundland anticipates that the recent closures, coupled with lease expirations, will eventually reduce its store count to between 650 and 700. Additionally, Poundland will shut down its distribution center in Darton, South Yorkshire, and its national distribution center in Bilston, West Midlands, by early 2026.