A.C. Moore Store Closures 2019: Why Are All 145 Locations Closing?

Another retailer has succumbed to stores closures. This time, it’s arts & crafts company, A.C. Moore. Parent company Nicole Crafts announced the retailer’s exit from its brick-and-mortar stores, saying that all A.C. Moore locations will close.

The closures affect 145 stores and according to the company, are a “part of a broader strategic plan.”

As part of the planned store closures, The Michaels Companies Inc. will take over the leases at up to 40 A.C. Moore stores, in addition to a distribution center located on the east coast. Michaels will also purchase the intellectual property of A.C. Moore, giving it greater presence as the largest arts and crafts retailer in North America, the company said.

The newly branded Michaels stores will be opened in 2020, Mark Cosby, CEO at Michaels said in a statement. The stores’ openings are contingent on negotiations with landlords.

"For over 30 years, our stores have been servicing the creative community with a vast selection of art and craft materials, with one common focus, the customer,” Anthony Piperno, CEO at A.C. Moore said in a statement. “Unfortunately, given the headwinds facing many retailers in today's environment, it made it very difficult for us to operate and compete on a National level.

“During this process, we will continue to provide great customer experience, while still delivering quality and value on your favorite products. Plans for closing specific A.C. Moore locations will be shared in the upcoming weeks on our website. While we will stop accepting further online orders as of today, we will ship any previously placed orders in the ordinary course,” he added.

Gordon Brothers is facilitating the closure of the locations with Matthew Pascucci of Mackinac Partners, serving as the chief restructuring officer to assist in the store closings.