New Jersey-based arts and crafts retailer A.C. Moore will close all 145 of its stores, parent company Nicole Crafts announced on Monday.
"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, the Chief Executive Officer of A.C. Moore said. “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.”
Michaels, the country’s largest provider of arts, crafts, framing, floral and wall décor, will assume leases for up to 40 A.C. Moore store locations.
"This transaction enables us to further expand our presence in strategic markets and serve even more customers both online and in store,” Michaels CEO Mark Cosby wrote. “We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members."
More than 5,000 people work for A.C. Moore at its stores from Maine to Florida, the company said.
A.C. Moore’s first store opened in Moorestown, New Jersey, in 1985. The family-owned company's stores specializes in arts, crafts and floral merchandise. Its corporate office and distribution center is located in Berlin, New Jersey.