Hancock Fabrics Closing All Stores, Final Sales Now

The owners of Hancock Fabrics has announced that all stores will be closing in the coming weeks.

The local Hancock Fabrics is located at 952 Bragg Road in Fredericksburg.

New owners Great American Group announced the closing in a statement Thursday.

Going-out-of-businesses sales began this weekend and are expected to run through the next few weeks in the 185 remaining open stores.

The Hancock Fabrics website is also promoting "20 percent to 50 percent off every item" in store and online. See more local store info.

The sale of Hancock Fabrics was completed Thursday, 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, according to the St. Louis Post-Dispatch. Fixtures will also be sold at stores, according to the report.