Under threat: List of Hobbycraft stores set to close as chain announces up to 120 job losses

However the firm's outlet in Telford, along with nearby stores in Wolverhampton, Brierley Hill and Stafford, are set to escape the axe for now, according to owners Modella Capital.

It added that the future of “a number of other stores” is still being reviewed, although it did not reveal which ones were under threat. A further 18 branches of Hobbycraft are reported to be threatened with closure as part of the restructure.

Hobbycraft said nine stores will stop trading by mid July, affecting between 72 and 126 jobs. An undisclosed number of jobs will also be cut at its Bournemouth head office and distribution centre in Burton-on-Trent. 

Private equity firm Modella Capital bought the the hobby retailer in August last year, and is now launching an overhaul of its operations, which it describes as a "necessary action".

Hobbycraft chief executive officer Alex Wilson said: “For many our stores are more than just arts and crafts supplies – they have become places for gaining crafting ideas and inspiration.

“Very sadly, the strength of our offering has not made us immune from the challenges faced by the retail sector in recent years.

“Closing stores is always a last resort and this has been an extremely difficult decision.

“Making these changes is sadly a necessary action to enable us to keep our doors open to crafters up and down the country.”

The following stores are set to close:

• Bagshot, Surrey

• Basildon, Essex

• Borehamwood, Hertfordshire

• Bristol: Imperial Retail Park

• Canterbury, Kent

• Cirencester, Gloucestershire

• Dunstable, Bedfordshire

• Epping Forest, Essex

• Lakeside Shopping Centre, Essex