Did Acmoore go out of business?
It had 145 retail locations in the eastern United States, with corporate headquarters in Berlin, New Jersey. On November 25, 2019, A.C. Moore announced that it would wind down its operations, closing all stores, and selling selected leases and other assets to a competitor, Michaels.
Did AC Moore merge with Michaels?
New Jersey-based arts and crafts chain A.C. Moore will close its 145 stores, its parent company Nicole Crafts announced in a news release Monday. Up to 40 of the closing locations will become Michaels.
Did Michaels purchase AC Moore?
The Michaels Companies, Inc.’s $58 Million Acquisition Of Competitor A.C. A.C. Moore, an arts and crafts retailer that operates more than 145 stores from Maine to Florida in the eastern U.S., simultaneously announced its plans to liquidate its retail stores.
How much did Michaels buy AC Moore for?
(Nasdaq: MIK) have entered into an agreement that gives the retailer the right to lease up to 40 store locations as part of a $58 million deal with A.C. Moore Inc., a public filing shows. The asset purchase agreement between Michaels Stores Inc. and Michaels Stores Procurement Co.
Why did A.C. Moore close down?
Arts and crafts retailer A.C. Moore has announced it is closing all of its 145 stores. The A.C. More chain is owned by Nicole Crafts, which is closing down the 34-year-old chain because it is exiting retail sales due to the “headwinds facing many retailers” today.
Why is A.C. Moore shutting down?
Does A.C. Moore exist anymore?
The A.C. Moore chain of arts and crafts stores is calling it quits. Parent company Nicole Crafts has decided to exit its retail operations as part of a broader strategic plan. The company has retained the retail and real estate divisions of Gordon Brothers to close A.C.
Who did Michaels buy out?
Apollo Global Management
Arts and crafts retailer Michaels said Wednesday it agreed to be taken private in a $3.3 billion deal with Apollo Global Management.