Hancock Fabrics To Close 104 Stores

BALDWYN, MS-Hancock Fabrics is closing 104 of its stores in addition to the 30 that management announced last month it is shutting. This latest round of closures will leave the retailer with about 270 units across the country.

The additional 104 stores represent annual sales of about $75 million. The company will conduct liquidation sales at the units over the next three to four months.

Hancock Fabrics has also received a default notice from its bank group due to the delay of its quarterly filings last year. The company is now exploring “strategic alternatives” due to the move.