Hobbycraft is preparing to shut down three additional stores this weekend, offering discounts of up to 70% on their products. The popular arts and crafts retailer will be closing its Crayford store on Saturday, followed by the King’s Lynn branch on Monday, and the Stafford store the following Sunday.

To clear out inventory at these locations, Hobbycraft is running sales with significant markdowns. This move comes as part of a larger restructuring effort by the company, which has already closed 15 stores, including the Chichester and Maidenhead branches earlier this week.

The closures are deemed necessary by Modella Capital, the private equity firm that owns Hobbycraft, to safeguard the future of 99 stores and 1,800 jobs within the company. Hobbycraft’s CEO, Alex Wilson, expressed confidence in the changes, emphasizing the focus on enhancing the online business and introducing innovative ways to engage customers, such as Hobbycraft TV.

In a similar industry trend, Bodycare recently entered administration, resulting in the closure of 32 stores initially, followed by an additional 30 closures. Poundland, on the other hand, faced store closures as part of its restructuring plan but has recently delayed 11 of the planned closures.

Despite the ongoing changes in the retail landscape, Hobbycraft remains committed to inspiring creativity and serving craft enthusiasts across the UK for years to come.