Hobbycraft to axe stores and jobs in radical restructuring
- Hobbycraft confirmed it will close nine stores, resulting in about 100 job losses amid restructuring plans by Modella Group.
- Modella Group is considering shutting down nearly a quarter of Hobbycraft locations by July.
- Despite the closures, 97 out of 124 Hobbycraft locations will remain open, keeping 1,800 jobs intact.
60 Articles
60 Articles
Store closures update: Hobbycraft to shut down multiple stores this year
Hobbycraft is the latest high street staple that is set to close multiple stores as businesses continue to struggle navigating the post-Covid economy.Earlier this week, the arts and crafts chain confirmed that nine of its locations are earmarked for closure in a move that will see around 100 jobs cut.The retailer is owned by Modella Group, the parent company that took over WH Smith, which is also experiencing drastic changes to its business It i…
Coverage Details
Bias Distribution
- 73% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage