Business News Hancock Fabrics store

Published on April 5th, 2016 |

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Hancock Fabrics store in Buckhead to close shortly after sale

The Hancock Fabrics store located in the Buckhead Crossing shopping center at 2625 Piedmont Road will be closing in the coming weeks as part of the new owners’, Great American Group, plans to shutter all 185 of its remaining open stores.

Going-out-of-businesses sales began last weekend and are expected to run through the next few weeks until the store’s closing. The Hancock Fabrics website is also promoting “20 percent to 50 percent off every item” in store and online.

The sale of Hancock Fabrics was completed March 31, with Great American Group as the successful bidder during an auction by the U.S. Bankruptcy Court in Delaware.

“Great American Group has worked closely with Hancock Fabrics in a range of capacities over the last several years,” said Scott Carpenter, president of GA’s Retail Solutions division. “This has given us a deep understanding of Hancock’s inventory and assets, which ultimately allowed us to prevail as the highest bidder.”

Great American helped Hancock liquidate more than 170 stores during a 2007 bankruptcy reorganization. Fixtures reportedly will also be sold at stores.

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