WASHINGTON — Hancock Fabrics is closing all 185 of its remaining stores after filing for bankruptcy earlier this year.
The chain attempted to save thousands of jobs by selling its remaining 185 stores, but was bought by Great American Group, a liquidator, in late March.
Hancock Fabrics has been struggling financially for several years. It has only posted profit once in the past nine years and has been hit with high operating costs, according to Business Wire. The company previously filed for bankruptcy in 2007, and closed 104 stores but re-emerged a year later.
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this saddens me. I love hancock fabrics, but people just don't sew anymore. I've taught my daughters and granddaughters the art and they enjoy it, but sadly it's a dying art.
ReplyDelete"high operating costs" = Obamacare
ReplyDeleteThis does not surprise me at all - you go by there and no one there at any time of day - can't stay in business if no one shops there. Like 7:49 AM stated, dying art, no one sews any more. And for Salisbury, another store that will be sitting there empty. Salisbuy, the dying town.
ReplyDeleteI know a lot of people that sew! But sadly, not enough to keep the doors open. :-(
ReplyDeleteThis makes me sad. I love to sew. Now I will have to go to Easton or Dover to JoAnnes. RATS
ReplyDeleteWhere did Thorogoods concrete in Fruitland go?
ReplyDeleteThorogoods was bought by Chaney Enterprises and operates out of Salisbury now. All employees were retained.
ReplyDeleteI also think a lot of what was sold at Hancock's can be found at Michael's or Hobby Lobby.
ReplyDelete