Hobbycraft in advanced talks over potential sale
Arts and crafts retailer Hobbycraft is on the brink of being sold to a specialist investor whose executives have previously backed retail brands such as Paperchase and Tie Rack.
According Sky News, Modella Capital is in advanced talks with Hobbycraft’s owner Bridgepoint over a potential sale, although it is not yet clear how much Modella would pay for the company.
The news outlet said that city sources had told it that a deal could be signed off in days. Bridgepoint has owned Hobbycraft since 2010.
On its website, Modella’s list of investments includes Ted Baker’s UK licensing partner, No Ordinary Designer Label, which collapsed into administration earlier this year. The firm is linked to turnaround specialist Rcapital.
Hobbycraft has around 120 stores in the UK.
