Store Closings: A.C. Moore Shuttering all Stores, up to 40 Locations to Become Michaels
Arts and crafts chain A.C. Moore is the latest retailer to announce closing all of its stores.
The family owned retailer, based in Berlin, NJ, opened the first A.C. Moore store in Moorestown, NJ, in 1985 and has stores across the Eastern United States. Its parent company Nicole Crafts announced it will close all 145 if its stores, but up to 40 of the closing locations will become Michaels. It has also stopped taking online orders, but will still ship any previously placed orders.
"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,” said A.C. Moore CEO Anthony Piperno. “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.
‘While it was a difficult decision for us, this transaction will result in a group of stores reopening under the Michaels banner subject to negotiations with landlords— allowing teams to continue serving the brand's loyal customers and employ our valued team members in those locations.”
As part of the transaction, The Michaels Companies Inc., will assume leases for up to 40 store locations and a lease on an east coast distribution facility, plus purchase intellectual property.
"This transaction enables us to further expand our presence in strategic markets and serve even more customers both online and in store,” said Michaels CEO, Mark Cosby. We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members."
Plans for closing specific A.C. Moore locations will be shared in the upcoming weeks on the retailer’s website.