Lincraft is set to shut down its entire network of over 60 physical stores across Australia and New Zealand, marking an end of an 80-year retail presence and resulting in the loss of hundreds of jobs.
The closure was announced via an email to Lincraft Club members, with the company confirming that its brick-and-mortar outlets will be progressively wound down over the coming months.
While stores are now closing soon, the brand’s online shop will continue to operate during the transition period.
Lincraft management described the decision as “extremely difficult,” underscoring efforts to support staff and communicate transparently with employees affected by the closures.
The company mentioned the emotional impact on long-serving team members who have worked through decades of change in the retail sector.
Founded in 1938 as Suzanne Silks in Melbourne, the business has undergone immense revolution via several ownership changes before being restructured into Lincraft Australia in 2005.
Despite periods of revival, the company has struggled to adapt to long-term shifts in consumer behavior, including declining demand for DIY craft and garment-making as ready-made products garnered significant attraction.
Lincraft’s closure highlights the continuing challenges faced by traditional specialty retailers in an increasingly digital-first shopping environment.
Moreover, the shutdown of over 60 stores is likely to have wider commercial effects, releasing significant retail space across shopping precincts.
Several credible analysts suggest this could pressure rental yields in some areas but also create opportunities for new retailers or alternative commercial uses to occupy vacant properties.
