Overview

• Nine outlets in Essex, Surrey, Hertfordshire, Gloucestershire, Kent and Bedfordshire have closed today under Hobbycraft’s company voluntary arrangement.
• The cuts could affect between 72 and 126 roles including redundancies at the Bournemouth head office and Burton-on-Trent distribution centre.
• Modella Capital launched the CVA in April to reduce debt and safeguard the future of at least 99 branches.
• The private equity owner acquired Hobbycraft last August and has since been overhauling its finances and operations.
• Retail peers such as Poundland and The Original Factory Shop are also scaling back store networks amid broader high street pressures.