Craft Stores That Went Out Of Business
Craft stores are a haven for those who love DIY projects, arts, and crafts. However, despite the popularity of the industry, not all craft stores were able to withstand the test of time. In this article, we'll take a look at some of the craft stores that went out of business over the years.
1. Hancock Fabrics
Hancock Fabrics was a fabric and crafts retailer that filed for bankruptcy in 2016. The company had been in business for over 50 years, but faced competition from larger craft stores such as Jo-Ann's and Michaels. In addition, the rise of online shopping also impacted the company's sales.
2. A.C. Moore
A.C. Moore was a popular craft store chain that closed all of its stores in 2019. The company had been in business for over 30 years, but faced stiff competition from larger craft stores and online retailers. The company's decision to close its stores came as a surprise to many craft enthusiasts.
3. Archiver's
Archiver's was a specialty retailer that focused on scrapbooking supplies and classes. The company had over 40 stores across the United States, but filed for bankruptcy in 2013. The company's downfall was attributed to the rise of digital scrapbooking and the popularity of online retailers such as Amazon.
4. Rag Shop
Rag Shop was a fabric and craft store that was in business for over 50 years. The company filed for bankruptcy in 2001, and despite attempts to restructure, eventually closed all of its stores in 2004. The company's inability to adapt to changing consumer trends was cited as one of the reasons for its decline.
5. Ben Franklin Crafts
Ben Franklin Crafts was a popular craft store chain that was in business for over 40 years. The company filed for bankruptcy in 1996, and despite attempts to restructure, eventually closed all of its stores in 1997. The company's inability to compete with larger craft stores such as Michaels and Jo-Ann's was cited as one of the reasons for its decline.
6. Zany Brainy
Zany Brainy was a toy and craft store chain that was in business for over 10 years. The company filed for bankruptcy in 2001, and despite attempts to restructure, eventually closed all of its stores in 2002. The company's inability to compete with larger toy stores such as Toys "R" Us and the rise of online retailers such as Amazon was cited as one of the reasons for its decline.
7. Pat Catan's
Pat Catan's was a craft store chain that was in business for over 60 years. The company was acquired by Michaels in 2019, and all of its stores were rebranded as Michaels stores. The acquisition was seen as a strategic move by Michaels to expand its presence in the craft store market.
8. The Christmas Tree Shops
The Christmas Tree Shops was a chain of discount stores that sold holiday decorations, gifts, and crafts. The company was acquired by Bed Bath & Beyond in 2003 and continues to operate as a subsidiary of the company. However, many of the original Christmas Tree Shops stores have closed over the years.
9. Craft Warehouse
Craft Warehouse was a craft store chain that was in business for over 20 years. The company filed for bankruptcy in 2020, citing the impact of the COVID-19 pandemic on its sales. The company's stores were eventually acquired by Michaels, and many of them were rebranded as Michaels stores.
10. Lee Ward's Craft Stores
Lee Ward's Craft Stores was a chain of craft stores that was in business for over 30 years. The company filed for bankruptcy in 1990, and all of its stores were eventually closed. The company's inability to compete with larger craft stores such as Michaels and Jo-Ann's was cited as one of the reasons for its decline.
In conclusion, while the craft store industry is popular and thriving, not all craft stores were able to survive. Factors such as competition from larger stores, the rise of online shopping, and the inability to adapt to changing consumer trends have all contributed to the downfall of some craft stores over the years.