{"id":41162,"date":"2025-04-22T13:19:12","date_gmt":"2025-04-22T13:19:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/41162\/"},"modified":"2025-04-22T13:19:12","modified_gmt":"2025-04-22T13:19:12","slug":"hobbycraft-stores-in-ni-at-risk-of-closure-as-owner-looks-to-reduce-costs","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/41162\/","title":{"rendered":"Hobbycraft stores in NI at risk of closure as owner looks to reduce costs"},"content":{"rendered":"

BREAKING\u00a0|\u00a0\"The<\/p>\n

The Hobbycraft store opened on Boucher Road in Belfast in 2021<\/p>\n

Hobbycraft stores in Northern Ireland are at risk of closure as their owner looks to reduce its costs by entering into a form of insolvency, according to reports.<\/p>\n

There are two Hobbycraft stores here, with one at Boucher Road and another at Longwood Retail Park in Newtownabbey.<\/p>\n

Hobbycraft is the UK\u2019s biggest arts and crafts retailer, and employs around 20 people in Northern Ireland.<\/p>\n

According to Sky News, Hobbycraft owner Modella Capital is getting ready to launch a company voluntary arrangement to reduce its costs. <\/p>\n

Sky News said that the proposals would involve nine stores closing, with the loss of around 100 jobs. <\/p>\n

In addition, 18 would only stay open if there were fruitful negotiations over rent cuts with landlords.<\/p>\n

However, another 97 stores with around 1,800 staff would not be affected by the CVA, Sky News said.<\/p>\n

It also reported that Modella Capital is also looking into a restructuring at The Original Factory Shop, which it acquired earlier this year.<\/p>\n

According to its website, there are three TOF shops in Northern Ireland, in Portrush, Ballycastle and Warrenpoint.<\/p>\n

The Newtownabbey Hobbycraft store opened in 2019, with the Belfast unit following in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"BREAKING\u00a0|\u00a0 The Hobbycraft store opened on Boucher Road in Belfast in 2021 Hobbycraft stores in Northern Ireland are…\n","protected":false},"author":2,"featured_media":41163,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5011],"tags":[1211,2378,778,1144,16,15],"class_list":{"0":"post-41162","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-northern-ireland","8":"tag-antrim-news","9":"tag-belfast","10":"tag-margaret-canning","11":"tag-northern-ireland","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114381819965490327","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/41162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=41162"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/41162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/41163"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=41162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=41162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=41162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}