as otc pink limited hkfiq fate filed for chapter 11 bankruptcy ; assets liquidated founded 1957 ; 59 years ago 1957 tupelo mississippi u.s. defunct july 27 2016 ; 2 months ago july 27 2016 headquarters baldwyn mississippi united states number of locations 185 at the time of closure key people steve morgan ceo number of employees industry retail website www.hancockfabrics.com hancock fabrics was a specialty retailer of crafts and fabrics based in baldwyn mississippi united states . hancock fabrics operated as many as 266 stores in 37 states under the hancock fabrics name . hancok fabrics was established by the late lawrence d. hancock . all stores are in bankruptcy liquidation . as of 2016 update all of the stores have closed marking the end of the chain . history edit the company founded in 1957 in tupelo mississippi by elaine and lawrence doyce l.d. hancock started out as a cost efficient retail store and offered a greater selection of merchandise to its customers at lower prices . 1 by 1971 when lucky stores bought hancock fabrics the chain owned 81 stores and had 265 additional franchise stores in 19 states . 2 in 1985 it acquired minnesota fabrics based in charlotte north carolina which operated over one hundred stores under the names minnesota fabrics and fabric warehouse . lucky stores demerged hancock in 1987 floating it as a public company . 3 by 1992 the company was one of seven major retail piece goods chains operating 482 stores in the united states . 1 on march 21 2007 hancock fabrics announced it would file for chapter 11 bankruptcy . 4 the company closed 104 stores and emerged from bankruptcy in august 2008 . 5 in 2014 hancock announced plans to take the company private 6 then withdrew the proposal . 7 8 on april 1st 2016 the u. s. bankruptcy court approved the sale of the remaining assets to great american group who announced that the remaining 185 stores will be closed and their assets liquidated . 9 in august 2016 michaels stores inc. announced its intent to acquire hancock fabrics intellectual property and customer database . 10 references edit a b hancock fabrics inc. company history claudia h. deutsch lawrence doyce hancock 85 entrepreneur and philanthropist new york times october 29 1998 . retrieved may 7 2015 . maturi richard j. june 1989 . making money in unmergers . kiplinger s personal finance . retrieved may 1 2015 . this retailer was a favorite of bear sterns analyst charles neuhauser who specializes in spin off stocks before its stock soared to more than 22 a share . hancock operates 366 stores in 29 states under the names minnesota fabrics fabric warehouse and fabric market . it was spawned by lucky stores in 1987 ... hancock fabrics files for chapter 11 reorganization hancok fabrics was established by the late lawrence d. hancock . hancock fabrics investor overview miss . based hancock fabrics plans to go private associated press in the washington times april 26 2014 . hancock fabrics withdraws bid to go private . northeast mississippi daily journal . aug 4 2014 . retrieved may 1 2015 . hancock fabrics drops plan to go private wapt august 6 2014 . retrieved may 7 2015 . hancock fabrics to close remaining stores . northeast mississippi daily journal . 1 april 2016 . retrieved apr 1 2016 . michaels buys hancock fabrics ip assets including customer info . daily journal . retrieved 5 august 2016 . external links edit hancock fabrics retrieved from https en.wikipedia.org w index.php title hancock fabrics & oldid 739660304 categories retail companies of the united statescompanies based in mississippicompanies established in 1957retail companies disestablished in 2016hidden categories articles containing potentially dated statements from 2016all articles containing potentially dated statements navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 16 september 2016 at 03 55 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view