After 80 years in business, fabric and craft retailer Lincraft will shut its physical stores across New Zealand and Australia.
The company said the closure followed a prolonged period of difficult trading conditions, shifting consumer behaviour, rising operating costs, and intensifying pressure from low-cost international online retailers, which have steadily eroded margins and challenged the viability of traditional brick-and-mortar stores.
In New Zealand, Lincraft’s remaining stores are located in Thames, Taupō, Upper Hutt, Riccarton, Linwood, and Dunedin.
The decision is expected to affect more than 300 staff.
Managing director John Maguire said the company is working to support impacted employees across New Zealand and Australia as the closures progress, with assistance measures being put in place.
Maguire described the move as ‘extremely difficult’, noting the impact on its team members, many of whom have given years of loyal service to the business.
The closure process is set to begin in the coming months and will be managed progressively on a store-by-store basis, depending on existing lease arrangements.
The company will continue operating through its online platform.
Lincraft, formerly known as Suzanne Silks, was acquired and restructured by John Maguire and Brian Swersky, leading to the establishment of Lincraft Australia in 2005. It expanded into New Zealand in the early 2010s and grew to a peak of nine locations nationwide by 2015.