Sewing and crafts chain store Hancock Fabrics is closing its doors and liquidating after nearly sixty years in business.
Hancock Fabrics filed for Chapter 11 bankruptcy reorganization on February 2nd, its second bankruptcy filing in less than a decade. The initial bankruptcy plan called for closing 70 of the chain’s 260 stores. But reorganization plans failed, as did attempts to find a buyer for the company as an operating concern. This resulted in the company’s assets being sold to a liquidator at an auction on Tuesday. The sale to the liquidator was approved by the bankruptcy court on Thursday, effectively ending the existence of Hancock Fabrics. Continue Reading →