Hancock Fabrics was a specialty retailer of crafts and fabrics based in Baldwyn, Mississippi, United States. Hancock Fabrics operated as many as 266 stores in 37 states under the Hancock Fabrics name. Hancock Fabrics was established by the late Lawrence D. Hancock. The final stores were closed on July 27, 2016, after bankruptcy and liquidation.
Hancock Fabrics was founded in 1957 in Tupelo, Mississippi by Elaine (1922-2015) and Lawrence Doyce (L.D.) Hancock (1913-1998), started out as a cost-efficient retail store and offered a greater selection of merchandise to its customers at lower prices.[1]
By 1971, when Lucky Stores bought Hancock Fabrics, the chain owned 81 stores and had 265 additional franchise stores in 19 states.[2]
Growth and reorganizationedit
In 1985, Hancock Fabrics acquired Minnesota Fabrics, which was based in Charlotte, North Carolina and operated over one hundred stores under the names Minnesota Fabrics and Fabric Warehouse. Fabric Warehouse had originally been part of Hancock before they bought Minnesota Fabrics.
Lucky Stores demerged Hancock in 1987, floating it as a public company.[3] By 1992, the company was one of seven major retail piece-goods chains operating 482 stores in the United States.[1]
Closureedit
On March 21, 2007, Hancock Fabrics announced it would file for Chapter 11 bankruptcy.[4] The company closed 104 stores and emerged from bankruptcy in August 2008.[5]
On April 1, 2016, the U. S. Bankruptcy Court approved the sale of the remaining assets to Great American Group, who announced that the remaining 185 stores will be closed and their assets liquidated.[9] In August 2016, Michaels Stores, Inc. announced its intent to acquire Hancock Fabrics' intellectual property and customer database.[10]
^Claudia H. Deutsch, "Lawrence Doyce Hancock, 85, Entrepreneur and Philanthropist", New York Times, October 29, 1998. Retrieved May 7, 2015.
^Maturi, Richard J. (June 1989). "Making money in unmergers". Kiplinger's Personal Finance. Retrieved May 1, 2015. This retailer was a favorite of Bear Sterns analyst Charles Neuhauser, who specializes in spin-off stocks, before its stock soared to more than $22 a share. Hancock operates 366 stores in 29 states under the names Minnesota Fabrics, Fabric Warehouse and Fabric Market. It was spawned by Lucky Stores in 1987 ...
^Hancock Fabrics Files for Chapter 11 Reorganization [dead link]
^Hancok Fabrics was established by the late Lawrence D. Hancock. Hancock Fabrics Investor Overview]
hancock, fabrics, specialty, retailer, crafts, fabrics, based, baldwyn, mississippi, united, states, operated, many, stores, states, under, name, established, late, lawrence, hancock, final, stores, were, closed, july, 2016, after, bankruptcy, liquidation, com. Hancock Fabrics was a specialty retailer of crafts and fabrics based in Baldwyn Mississippi United States Hancock Fabrics operated as many as 266 stores in 37 states under the Hancock Fabrics name Hancock Fabrics was established by the late Lawrence D Hancock The final stores were closed on July 27 2016 after bankruptcy and liquidation Hancock FabricsCompany typePublicTraded asOTC Pink No Information HKFIQIndustryRetailFounded1957 67 years ago 1957 Tupelo Mississippi U S DefunctJuly 27 2016 7 years ago July 27 2016 FateFiled for Chapter 11 bankruptcy Assets liquidatedHeadquartersBaldwyn Mississippi United StatesNumber of locations185 at the time of closure Key peopleSteve Morgan CEO Number of employeesN AWebsitewww hancockfabrics com Contents 1 History 1 1 Early history 1 2 Growth and reorganization 1 3 Closure 2 References 3 External linksHistory editEarly history edit Hancock Fabrics was founded in 1957 in Tupelo Mississippi by Elaine 1922 2015 and Lawrence Doyce L D Hancock 1913 1998 started out as a cost efficient retail store and offered a greater selection of merchandise to its customers at lower prices 1 By 1971 when Lucky Stores bought Hancock Fabrics the chain owned 81 stores and had 265 additional franchise stores in 19 states 2 Growth and reorganization edit In 1985 Hancock Fabrics acquired Minnesota Fabrics which was based in Charlotte North Carolina and operated over one hundred stores under the names Minnesota Fabrics and Fabric Warehouse Fabric Warehouse had originally been part of Hancock before they bought Minnesota Fabrics Lucky Stores demerged Hancock in 1987 floating it as a public company 3 By 1992 the company was one of seven major retail piece goods chains operating 482 stores in the United States 1 Closure edit On March 21 2007 Hancock Fabrics announced it would file for Chapter 11 bankruptcy 4 The company closed 104 stores and emerged from bankruptcy in August 2008 5 In 2014 Hancock announced plans to take the company private 6 but later withdrew the proposal 7 8 On April 1 2016 the U S Bankruptcy Court approved the sale of the remaining assets to Great American Group who announced that the remaining 185 stores will be closed and their assets liquidated 9 In August 2016 Michaels Stores Inc announced its intent to acquire Hancock Fabrics intellectual property and customer database 10 References edit a b Hancock Fabrics Inc Company History Claudia H Deutsch Lawrence Doyce Hancock 85 Entrepreneur and Philanthropist New York Times October 29 1998 Retrieved May 7 2015 Maturi Richard J June 1989 Making money in unmergers Kiplinger s Personal Finance Retrieved May 1 2015 This retailer was a favorite of Bear Sterns analyst Charles Neuhauser who specializes in spin off stocks before its stock soared to more than 22 a share Hancock operates 366 stores in 29 states under the names Minnesota Fabrics Fabric Warehouse and Fabric Market It was spawned by Lucky Stores in 1987 Hancock Fabrics Files for Chapter 11 Reorganization dead link Hancok Fabrics was established by the late Lawrence D Hancock Hancock Fabrics Investor Overview Miss based Hancock Fabrics plans to go private Associated Press in The Washington Times April 26 2014 Hancock Fabrics withdraws bid to go private Northeast Mississippi Daily Journal Aug 4 2014 Retrieved May 1 2015 Hancock Fabrics drops plan to go private WAPT August 6 2014 Retrieved May 7 2015 Hancock Fabrics to close remaining stores Northeast Mississippi Daily Journal 1 April 2016 Retrieved Apr 1 2016 Michaels buys Hancock Fabrics IP assets including customer info Daily Journal Retrieved 5 August 2016 External links editHancock Fabrics Archived 2008 11 01 at the Wayback Machine Retrieved from https en wikipedia org w index php title Hancock Fabrics amp oldid 1174412608, wikipedia, wiki, book, books, library,
