Hobbycraft
This coverage examines Hobbycraft’s evolving strategy within the UK retail sector. Reporting includes its expansion plans, such as the opening of seven new stores in 2025, and the introduction of dedicated digital crafting spaces and haberdashery areas in new locations. The content also addresses the company’s financial performance, noting an 80% drop in profits for the year ending February 2024 despite revenue growth. Additionally, the analysis covers the impact of Modella Capital’s acquisition in August 2024 and subsequent restructuring efforts, including the planned closure of nine stores in 2025. This information is curated for retail professionals assessing market opportunities, operational challenges, and strategic shifts in the arts and crafts retail sector.
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Apr- 2025 -25 AprilHigh Street
Hobbycraft set to close nine stores
Hobbycraft is set to close nine stores, a move affecting up to 126 jobs, as part of a restructure led by new owners Modella Capital, it confirmed to the BBC. The restructuring will also result in redundancies across its Bournemouth head office and distribution centre in Burton-on-Trent but it has…
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25 AprilHigh Street
TOFS places hundreds of jobs at risk under new revival plans
Nearly 1000 jobs at The Original Factory Shop (TOFS) reportedly could be at risk as the company embarks on a survival plan which hinges on widespread rent cuts, according to Sky News. Modella Capital, the new owner of TOFS, has reportedly drawn up plans to renegotiate rents at 88 of…
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Mar- 2025 -27 MarchDIY
Lakeland becomes latest bid target for Modella Capital
Homewares retailer Lakeland has become the latest takeover target of retail investor firm Modella Capital, Sky News has revealed. The investment firm, which owns Hobbycraft and The Original Factory Shop, is among a small number of parties trying to acquire a controlling stake in Lakeland. According to retail industry sources,…
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25 MarchHigh Street
WH Smith completes refinancing amid plans to sell high street arm
WH Smith has successfully completed a refinancing, which includes its first US Private Placement (USPP) as well as a new bank term loan of £120m, ahead of the group’s potential sale of its high street arm. The £200m USPP notes have a maturity of seven, 10 and 12 years and…
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13 MarchHigh Street
Hobbycraft owner eyes potential restructuring
Hobbycraft owner, Modella Capital, has reportedly enlisted advisers from FRP to explore a restructuring at the crafts chain, Sky News has reported. Modella, which acquired the retailer seven months ago, is examining its options such as a company voluntary arrangement (CVA). CVAs, which are frequently used to facilitate store closures…
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10 MarchHigh Street
Two bidders remain in running for WH Smith high street arm
Only two firms reportedly remain in the running to acquire WH Smith’s high street business, with a possible decision coming sometime this spring, according to Sky News. The news outlet revealed that Alteri Investors, which owns Bensons for Beds, and the Hobbycraft and The Original Factory Shop owner Modello Capital…
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Feb- 2025 -12 FebruaryNews-In-Brief
Today’s news in brief-12/2/25
Kering, the luxury conglomerate behind Gucci, Yves Saint Laurent, and Bottega Veneta, reported a challenging fiscal 2024, with revenue falling 12% to €17.2 billion (£14.3 billion) and EBITDA plummeting 29% to €4.6 billion (£3.8 billion). Gucci’s 23% sales decline to €7.65 billion (£6.37 billion) significantly impacted the group, alongside a…
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12 FebruaryPeople Moves
JD Group appoints new CEO to Outdoor business
JD Group has appointed Dominic Jordan as the new CEO of JD Outdoor as Lee Bagnall steps down from the role. Jordan joins the group from Hobbycraft, where he held the role of CEO from 2017 to 2024. Prior to that, he was retail and property director from 2012 to…
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Jan- 2025 -28 JanuaryNews-In-Brief
Today’s news in brief-28/1/25
HMV owner Doug Putman is reportedly exploring a bid for WH Smith’s high street arm after the retailer announced plans to sell its 500-store chain. Modella Capital, owner of Hobbycraft, is also in talks regarding a potential acquisition, although the outcome remains unclear. WH Smith’s move comes as its high…
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28 JanuaryHigh Street
HMV owner eyes bid for WH Smith’s high street arm
The owner of HMV is reportedly considering snapping up WH Smith’s high street arm, after the retailer this week confirmed it was exploring a potential sale of its 500 high street stores. According to The Sun, it is understood that HMV owner Doug Putman is now in talks with advisers over…
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