AND WILL HAVE MORE DETAILS ON WHAT HAPPENED SHORTLY. BREAKING NEWS FROM THE CONSUMER WORLD: A-C MOORE HAS JUST ANNOUNCED IT PLANS TO CLOSE STORES. A-C MOORE'S PARENT COMPANY SAYS THE CLOSURE WILL AFFECT ALL 140 STORES NATIONWIDE. THE CRAFT CHAIN HAS SEVERAL LOCATIONS ACROSS MAINE. SOME 40 STORES WILL BE REBRANDED AS MICHAEL'S -- BUT ITS NOT CLEAR WHAT THE FUTURE HOLDS FOR THE STORES IN OUR STATE. A-C MOORE WILL ALSO STOP ACCEPTING ONLINE ORD
A.C. Moore to close its remaining stores; some set to return as Michaels
The parent company of A.C. Moore Arts and Crafts says the retail chain will soon close its locations nationwide, though up to 40 of them will reopen under the Michaels umbrella. New Jersey-based Nicole Crafts announced Monday that it will exit its retail operations and close the over 140 A.C. Moore stores across the country."For over 30 years, our stores have been servicing the creative community with a vast selection of art and craft materials, with one common focus, the customer," A.C. Moore's CEO Anthony Piperno said in a statement. "Plans for closing specific A.C. Moore locations will be shared in the upcoming weeks on our website."Piperno says A.C. Moore will stop accepting further online orders as of Monday, but that it will ship any previously placed orders.As part of the transaction, The Michaels Companies Inc. will assume leases for up to 40 store locations and a lease on an East Coast distribution facility."We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members," said Michaels CEO Mark Cosby."While it was a difficult decision for us, this transaction will result in a group of stores reopening under the Michaels banner subject to negotiations with landlords— allowing teams to continue serving the brand's loyal customers and employ our valued team members in those locations," Piperno added. "We believe the transaction was the best option for our employees, customers, vendors, landlords, and other key stakeholders and thank them for their many years of support." There is no timetable for when the A.C. Moore stores are slated to close.
The parent company of A.C. Moore Arts and Crafts says the retail chain will soon close its locations nationwide, though up to 40 of them will reopen under the Michaels umbrella.
New Jersey-based Nicole Crafts announced Monday that it will exit its retail operations and close the over 140 A.C. Moore stores across the country.
"For over 30 years, our stores have been servicing the creative community with a vast selection of art and craft materials, with one common focus, the customer," A.C. Moore's CEO Anthony Piperno said in a statement. "Plans for closing specific A.C. Moore locations will be shared in the upcoming weeks on our website."
Piperno says A.C. Moore will stop accepting further online orders as of Monday, but that it will ship any previously placed orders.
As part of the transaction, The Michaels Companies Inc. will assume leases for up to 40 store locations and a lease on an East Coast distribution facility.
"We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members," said Michaels CEO Mark Cosby.
"While it was a difficult decision for us, this transaction will result in a group of stores reopening under the Michaels banner subject to negotiations with landlords— allowing teams to continue serving the brand's loyal customers and employ our valued team members in those locations," Piperno added. "We believe the transaction was the best option for our employees, customers, vendors, landlords, and other key stakeholders and thank them for their many years of support."
There is no timetable for when the A.C. Moore stores are slated to close.