Hancock Fabrics, a major U.S. fabric and craft retailer, went out of business and closed all its stores in 2016 after filing for bankruptcy, liquidating its inventory through going-out-of-business sales. The brand's intellectual property, including customer data, was later acquired by Michaels Stores, but the original retail chain itself ceased operations, ending a legacy that began in 1957.

Key Details of the Discontinuation:

Bankruptcy & Closure: Hancock Fabrics filed for Chapter 11 bankruptcy in February 2016 and closed all 266 stores across 37 states by July 2016.

Liquidation: The company's assets and inventory were sold off in massive liquidation sales, with discounts offered on all merchandise.

Acquisition: Michaels Stores purchased the brand, patents, and customer lists from the bankruptcy court, though this didn't revive the physical stores.

Legacy: The closure marked the end of an era for many crafters who relied on Hancock for fabrics, sewing supplies, and home decorating textiles.

What Happened to Hancock Fabrics? The company struggled financially, facing intense competition and its own operational challenges, leading to its second bankruptcy filing and ultimate shutdown. While Michaels now owns the name, the beloved chain of brick-and-mortar stores is permanently gone.