Nearly a quarter of Hobbycraft’s stores are set to close under new plans – and the Dunstable location is among those set to be axed.
According to Sky News, Modella Capital, a private investment group, intends to liquidate nine arts and crafts outlets, with another 18 at risk as Hobbycraft’s parent company is restructured.
The current plans would result in approximately 100 job losses, with more layoffs if other outlets are also closed.
Despite the fact that it opened in March 2024, the store at White Lion Retail Park is one of nine that will close. In a statement, a Modella spokeswoman said: “Modella Capital is absolutely committed to bricks and mortar retail, even as the sector faces increasing pressure.”
“[Modella] recognizes that high streets provide a vital service to consumers, are an important source of employment, and are critical to the future success of local economies.” “Modella Capital believes that many retailers may succeed on the high street, especially those with a unique offering and a dedicated customer base.
“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.”
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