Hobbycraft owner Modella Capital is understood to be mulling a potential sale of the arts and crafts retailer, after an approach from a prospective buyer.
The private equity firm is gearing up to appoint advisers to manage interest from potential buyers, according to a report from Sky News.
It comes after Modella Capital snapped up Hobbycraft from Bridgepoint in summer 2024.
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The identity of the party that approached Modella regarding an acquisition of Hobbycraft remains unclear, the news company reported. However, it said that sources expected it to prompt a comprehensive process to find a new owner.
Retail Gazette has contacted Hobbycraft for comment.
The news comes after the private equity firm restructured Hobbycraft via a company voluntary arrangement (CVA) last year.
The majority of the retailer’s stores remained unaffected by the CVA, protecting 1,800 roles.
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