AC Moore going out of business and closing 145 stores

AC Moore will shutter all of its arts-and-crafts stores, it was announced this week.

The New Jersey-based retailer will close its more than 145 stores, which are largely scattered across the East Coast, its parent company Nicole Crafts announced Monday. The larger crafts chain Michaels will take over the leases for as many as 40 of them, the company said.

AC Moore did not give an immediate timeline for the store closings, but Piperno said more details would be announced in the coming weeks. The company also planned to stop accepting online orders as of Monday, he said.

The move to get out of retail is part of a “broader strategic plan” for Nicole Crafts, the news release says. The company said it has hired the advisory firm Gordon Brothers to help shutter the AC Moore stores.

Source
https://nypost.com/2019/11/26/ac-moore-going-out-of-business-will-close-all-145-stores/

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