Private equity firm Modella Capital bought the the hobby retailer in August last year ... Hobbycraft chief executive officer ...

The owner of Hobbycraft is planning a major restructuring that could see the arts and crafts retailer close at lease nine stores. According to a report by Sky News, Modella Capital is preparing to ...

The arts and crafts retailer said the store closures would take place by mid-July with hundreds of jobs at risk ...

Hobbycraft is planning to close at least nine stores across the UK. The move is set to affect up to 126 jobs. It comes as part of a restructure at the arts, crafts and hobbies supplies firm.

Private equity firm owner Modella Capital is launching the overhaul after buying the arts and crafts retailer in August last year.