Hancock Fabrics granted approval to hold going-out-of-business sales at 134 stores

By Caroline Salls

Pittsburgh, April 5 - Hancock Fabrics, Inc. obtained final court approval to hold going-out-of-business sales, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Hancock plans to close 134 stores as part of its ongoing review of store performance.

The company also obtained court approval to hire Great American Group, LLC to provide consulting services for the going-out-of-business sales.

Hancock Fabrics, a Baldwyn, Miss., specialty retailer of fabric and related home sewing and decorating accessories, filed for bankruptcy on March 21. Its Chapter 11 case number is 07-10353.

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