Hobbycraft prepares to close stores and slash jobs in survival restructure

Hobbycraft owner Modella Capital is planning a significant restructuring that could see the closure of several stores and the loss of up to 250 jobs.
The private investment firm is gearing up to launch a company voluntary arrangement (CVA) at the retailer as soon as on Wednesday, Sky News reported.
Sources close to the plans claimed that nine of the chain’s stores would be axed, with the loss of around 100 jobs, while 18 more would stay open if negotiations with landlords regarding rent cu