Hancock Fabrics is set to begin liquidation aftera U.S. Bankruptcy Court in Delaware approved the sale of the chain to Great American Group on Thursday.
Great American Group says going-out-of-business sales for 185 Hancock Fabrics stores have already begun.
The sales will offer consumers a unique opportunity to receive significant discounts on the retailer's inventory of fashion and home decorating textiles, sewing accessories, needlecraft supplies, and sewing machines. Select furniture, fixtures and equipment at stores will also be for sale.
"Our team has worked closely with Hancock Fabrics in a range of capacities over the years," commented Scott Carpenter, president of GA's Retail Solutions division. "Now, our task will be discounting all of the merchandise in the stores until it is completely liquidated. Loyal customers and the general public will be able to shop in the stores and receive significant savings on a wide variety of quality merchandise, just in time for their prom and bridal purchases. We expect the going-out-of-business sales to last several weeks before all of the merchandise is sold in the remaining locations."
Hancock Fabrics, Inc. was founded in 1957 and operated approximately 255 retail stores in 37 states and an Internet store at Hancockfabrics.com.