• All A.C. Moore stores will be shuttering for good. 
• The chain's parent company, Nicole Crafts, announced the closure of the arts-and-crafts business in a press release Monday.
• Around 40 or so stores will be converted into Michaels locations.
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A.C. Moore's entire fleet of 145 stores will be closing permanently. The chain's parent company, Nicole Crafts, put out a press release Monday announcing the decision and noting that up to 40 of the stores could be converted into Michaels.

A.C. Moore is an arts-and-crafts chain based in the eastern United States. It was founded in Moorestown, New Jersey, in 1985, and is currently located in Berlin, New Jersey.

A.C. Moore CEO Anthony Piperno said in a statement that "plans for closing specific A.C. Moore locations" will be published on the chain's website, and that the company will no longer be accepting any online orders. 

"Unfortunately, given the headwinds facing many retailers in today's environment, it made it very difficult for us to operate and compete on a National level," Piperno said in a statement. "During this process, we will continue to provide great customer experience, while still delivering quality and value on your favorite products."

The release notes that A.C. Moore employs over 5,000 people between Maine and Florida.

In the same statement, Michaels CEO Mark Cosby elaborated on the fate of the 40 or so stores that his company has acquired. 

"We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members," Cosby said.