Hobbycraft has announced plans to shut at least nine stores across the UK in a move affecting up to 126 jobs as part of a restructure.
Fully story: https://www.yorkshirepost.co.uk/business/hobbycraft-over-100-jobs-at-risk-as-retailer-set-to-close-at-least-nine-stores-5094297
Fully story: https://www.yorkshirepost.co.uk/business/hobbycraft-over-100-jobs-at-risk-as-retailer-set-to-close-at-least-nine-stores-5094297
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00:00Hello, I'm Michael Crossland, business reporter with the Yorkshire Post, here with the news this afternoon that Hobbycraft has announced that it will close nine UK stores in a move that the company said could affect up to 126 jobs.
00:15Private equity firm Medela Capital is launching the overhaul after purchasing the company in August of last year.
00:23Medela is also the company who agreed to buy W.H. Smith's high street business earlier this year.
00:30Hobbycraft has said that nine of its stores will stop trading by mid-July, affecting between 72 and 126 jobs.
00:39The company also added that a number of other stores are also being reviewed as part of the move.
00:47That's all for the time being. I'm Michael Crossland reporting for the Yorkshire Post.