A.C. Moore isn’t feeling so crafty anymore: the retailer announced a plan to close all its stores Monday.
The Berlin-based company didn’t specify when closures would take place, but said leases for up to 40 of its 140 stores would be transferred to The Michaels Cos. Inc., a craft supply store and competitor based in Irving, Texas.
“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. 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,” said Chief Executive Officer Anthony Piperno in a statement. “During this process, we will continue to provide great customer experience, while still delivering quality and value on your favorite products.”
Specific closure dates will be shared in the upcoming weeks on A.C. Moore’s website. As of Monday, it is no longer accepting online orders.
A.C. Moore is owned by CEO Anthony Piperno’s father Pepe Piperno, who purchased the business in 2011 after a long relationship with the retailer as president of craft supply distributor Sbar’s. Anthony Piperno took his post as CEO in August after two years as president and chief marketing and merchandising officer.
On Michaels’ assumption of up to 40 of A.C. Moore’s leases, Michaels CEO Mark Cosby stated, “This transaction enables us to further expand our presence in strategic markets and serve even more customers both online and in store.”
Michaels closed all 36 of its Pat Catan’s banner stores earlier this year with plans to rebrand around 12 of them as Michaels stores.
The up to 40 A.C. Moore stores will re-open under the Michaels banner in 2020.
“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,” Piperno said. “We believe the transaction was the best option for our employees, customers, vendors, landlords, and other key stakeholders and thank them for their many years of support.”
New Jersey’s 18 A.C. Moore locations include locations in Egg Harbor, Sewell, Deptford, Voorhees, Haddon, Mount Laurel, Hamilton Township, Brick, Wall, Manalapan, Ocean Township, East Brunswick, Shrewsbury, Watchung, Linden, Clifton, Newton and Paramus.
Though its corporate headquarters is in Berlin, Moorestown also has offices and a distribution center. Chicago, Il. and Ningbo, China do as well.
A representative for A.C. Moore did not return a request for further comments.