Hobbycraft on verge of sale to retail investor

Modella Capital is in advanced talks to buy arts and crafts retailer Hobbycraft from private equity firm Bridgepoint.

Sky News has reported that a deal ‘could be signed within days’.

Modella is affiliated to the turnaround firm Rcapital, a former owner of Little Chef.

On its website it lists its portfolio of investments as including No Ordinary Designer Label, the licensing partner of Ted Baker in the UK, which collapsed into administration earlier this year.

Dorset headquartered Hobbycraft trades from more than 85 stores and has been owned by Bridgepoint since 2010.

It has 2,236 staff.