[NR] Britton Road Hancocks in OKC (Closing)

[SKOSCUFKA]

I work at the Hancock's in Wichita Falls (which is NOT closing) and here is the deal.  Our company is not doing well.  Our stock has dropped from $18 a share to about .90 in the last couple of years.  They are closing another 100 stores which have started liquidating.  If your  local store is on the closure list they have already started their clearance sale.  If your local store is not having a liquidation sale they are not on the list.  Hancock's filed chapter 11 last week and are in the process of restructuring and are planning to keep the remaining 200 or so stores open.  You can find out more about that on the Hancock website, HancockFabric.com, and clicking on investors at the bottom of the homepage.  
One thing that you should know is that the corporate office has put a freeze on some of the ordering we do so even the stores that are staying open may run out of some basic items, temporarily, until our corporate office gets their act together again.  This looks like it will take about a month. The sad fact is that there just aren't as many people buying fabric anymore because it is often cheaper and certainly takes less time to buy clothes that are already made.   WalMart is dropping their fabric departments because they don't make their dollar per square foot minimum (or so I've been told). 
I don't like buying fabric online or out of a catalog either.  It's hard to tell how something will drape without touching it and hard to know if the color is really what you want looking at it online.  So hopefully the rest of the stores will stay open.  Now go support your favorite store and buy some fabric!

Lady Helen Shiercliffe  



In a message dated 03/25/07 17:13:17 Central Standard Time, catmafia at hughes.net writes:
Is there a master list of which ones are closing?  I've heard that one 
of the three in Tulsa is closing and one of two in NW Arkansas.  It 
seems like Stillwater is also loosing their discount fabric place.  With 
all of these and Wal-Mart's scheduled death of their fabric 
departments-what will we do?  I love knowing that there are mail order 
fabric shops, but I am one who really likes to feel the fabric on the 
bolt and I'll miss that. 

Susan the Curious 

Burke McCrory wrote: 

>I noticed yesterday that they are closing the Hancocks at North Penn 
>and Britton Road in Oklahoma City.  Went in and it looks like they 
>are still fully stocked everything is 20% to 40% off.  One of the 
>sales people said they had just gotten the word last Thursday. 
> 
>Burke 
> 
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