Hobbycraft owner close to offloading chain

Hobbycraft is close to being sold to specialist retail investor Modella Capital after its private equity owner Bridgepoint put the chain up for sale earlier this year.
The investor is in advanced talks to buy the arts and crafts chain with a deal understood to be made within days, Sky News reported.
It is unclear how much Modella is likely to pay for the retailer, however, it was previously reported that Bridgepoint may only fetch a fraction of the £100m it paid for it in 2010. Related Sto