Hancock Fabrics is closing all of its remaining 185 stores after filing for bankruptcy including 10 in Oklahoma.
The Great American Group won a bankruptcy auction for assets and inventory of the fabric and craft retailer.
The company’s website is already advertising a going-out-of-business sale in stores and online. Sales will last for the next few weeks while inventory remains.
There are two Hancock Fabrics stores in Tulsa at 6530 East 51st Street and 1930 South Garnett. There is also a store in Muskogee at 2228 East Shawnee.
In the Oklahoma City area there are seven stores. They are in Edmond, Midwest City, Norman, Oklahoma City, Shawnee and Yukon.
Hancock filed for Chapter 11 bankruptcy for the second time in February. The company previously filed for bankruptcy in 2007, but re-emerged a year later.
The store closures will begin soon, and procedures have been put in place, allowing their liquidation to begin as soon as possible.