Hancock Fabrics stores are closing nationwide

The nation’s Hancock Fabrics stores are holding going-out-of-business sales, according to a news release issued by the Great American Group, an asset-disposition company.

Two of the stores are in Lexington: on Southland Drive and in Lakeview Plaza on Richmond Road. Store employees who answered the phone at both stores said they were not allowed to speak to the media.

The Southland Drive store has been a Hancock Fabrics since 1999, although fabric stores have done business in that building for 40 years. Signs posted at both stores say they are going out of business, although they do not identify a timetable.

On Feb. 2, Hancock Fabrics Inc. filed for Chapter 11 bankruptcy protection. On March 31, Great American was identified as the successful bidder for the inventory of the fabric retailer by U.S. Bankruptcy Court in Delaware.

“Now, our task will be discounting all of the merchandise in the stores until it is completely liquidated,” said Scott Carpenter, president of the Great American retail solutions division. “Loyal customers and the general public will be able to shop in the stores and receive significant savings on a wide variety of quality merchandise, just in time for their prom and bridal purchases.”

Carpenter said the sales will last several weeks “before all of the merchandise is sold.”

This story was originally published April 4, 2016 at 4:10 PM with the headline "Hancock Fabrics stores are closing nationwide."