Hobbycraft to close nine UK stores, risking 126 jobs, to secure the future of 99 stores and 1,800 jobs.

Arts and crafts retailer Hobbycraft plans to close nine UK stores, affecting up to 126 jobs, as part of a restructuring by its new owner, Modella Capital. The aim is to secure the future of 99 stores and 1,800 jobs amid retail sector challenges. The closures, set for mid-July, are a last resort to ensure the company's survival.