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Hancock Fabrics Bankruptcy Sale of Leases

Hancock Fabrics Bankruptcy Sale of Leases

The List of Stores

Auction today for remaining Hancock Fabrics stores

The future of Hancock Fabrics could be decided this morning in U.S. Bankruptcy Court in Delaware, where an auction will be held for its remaining 190 stores.

The Baldwyn-based fabrics and craft retailer filed for Chapter 11 restructuring in early February, and said it was closing 70 underperforming stores in the process. The going-out-of-business sales for those stores are expected to be complete by the end of May.

The Tupelo store is among the locations to close.

The beleaguered retailer, filing Chapter 11 for the second time since 2007, said it would seek a buyer for its remaining stores and hopes to remain a going concern.