Hancock Fabrics stores in Cedar Rapids closing
Move part of Hancock's' Chapter 11 bankruptcy filing
CEDAR RAPIDS — The two Hancock Fabrics stores in Cedar Rapids are closing after the company filed for Chapter 11 bankruptcy earlier this month.
Company officials said the stores started their closing/liquidation sale on Thursday.
They said they have not set closing dates for the stores at 383 Edgewood Rd. NW and 4750 Tama St. SE.
A spokesperson for the company, Brenda Adrian, did not say how many employees the closings will affect.
Hancock has 263 retail stores nationwide and is closing 70 of them.
The company, founded in 1957, filed for bankruptcy Feb. 2 in order to restructure.
“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,” president and CEO Steve Morgan said in a statement. “We value our relationships with our vendors and appreciate their support throughout this process.”
Other Hancock stores in Iowa will remain open.