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Hancock Fabrics wins OK to sell assets under agency agreement
By Caroline Salls
Pittsburgh, March 31 – Hancock Fabrics, Inc. received court approval to sell its assets under an agency agreement with Great American Group WF, LLC, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
As previously reported, the assets will be sold through going-out-of-business sales. Great American Group has agreed conduct the sale, guaranteeing the company 108% of the cost value of its inventory.
Hancock Fabrics, a Baldwyn, Miss.-based specialty retailer of fabric and related home sewing and decorating accessories, filed for bankruptcy on Feb. 2. The Chapter 11 case number is 16-10296.
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