Bankruptcy bid date set for Hancock Fabric

New York City-based RCS Real Estate Advisors has announced a bid deadline of June 16, 2016 for the remaining available leases of retailer Hancock Fabrics.



RCS began the process of selling the retailer's leases following Hancock Fabrics' February bankruptcy announcement. Hancock Fabrics operated 250 retail stores in 37 states when it filed for Chapter 11 bankruptcy protection on Feb. 2, 2016. Spence Mehl, senior VP of RCS, made the announcement.



RCS is currently accepting bids on 185 leases in 33 states with availabilities between 8,000 and 30,000-sq.-ft. The auction date has been set for June 21, 2016. Those wishing to place a bid may contact Mehl at 212-300-5375 or email him at [email protected].



RCS Real Estate Advisors specializes in analyzing retail real estate portfolios, reducing occupancy costs and expanding footprints. Key transactional services include portfolio assessments, renewals, lease restructuring, terminations, dispositions and site selection. RCS also operates as an outsourced real estate department for some of their clients.