The UK’s largest craft retail chain, HobbyCraft, has appointed accountancy firm Grant Thornton to oversee a £70 million sale of the company, according to press reports.

The chain’s management team, led by chief executive Chris Crombie, is thought to be looking at a potential buy-out of the family owned chain to pursue expansion, according to the Telegraph. HobbyCraft stocks over 38,000 products and has 39 stores in the UK.

Benefiting from a surge in demand for arts and crafts products during the recession HobbyCraft has performed well in 2009 with like-for-like sales uo 9% In the 35 weeks to October 25, and total sales up 22%.