Business

Hancock Fabrics on South Boulevard to close

Bailey Peters, right, quickly decisive with her final choice while Lily Binner is still searching through the endless array of fabrics at Hancock Fabrics.
Bailey Peters, right, quickly decisive with her final choice while Lily Binner is still searching through the endless array of fabrics at Hancock Fabrics. Observer archives

A Hancock Fabrics store on South Boulevard is set to close as the retailer works through bankruptcy, according to court filings.

The company filed for bankruptcy earlier this month. In a federal court document filed as part of the bankruptcy, the Mississippi-based company disclosed a list of 70 stores it plans to shutter. The company operates a total of more than 250 stores in 37 states.

Among them: The Hancock Fabrics store at 5407 South Boulevard, near Tyvola Road. The almost 12,000-square-foot store has about $361,000 worth of inventory on hand, according to the filing. Hancock is also closing stores in Asheboro, Winston-Salem and Columbia as part of the bankruptcy.

“We believe the restructuring is a positive step for the future of the company and we are committed to providing our customers quality fabrics and crafting essentials, both online and in stores,” said CEO Steve Morgan, in a statement.

Ely Portillo: 704-358-5041, @ESPortillo

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