40-year-old arts and crafts chain files Chapter 11 bankruptcy

The arts and crafts proviso retail assemblage has faced store closings implicit the past 5 years for a assortment of reasons, ranging from ownership retirements to terrible fiscal distress.

Coming retired of the Covid-19 pandemic, determination crafts retailer Beverly's Fabric & Crafts, which operated astir 40 stores successful California for 48 years, closed down each its stores successful precocious 2020 erstwhile the chain's owners decided to retire, the San Luis Obispo Tribune reported astatine the time.

Crafts and cloth retailer Joann started this twelvemonth by filing for Chapter 11 bankruptcy successful January 2025 for a 2nd time, suffering from declining income and inventory challenges. It yet revealed that it would adjacent each of its stores, numbering astir 815.

Joann's demise affected crafts suppliers, including IG Design Group Americas Inc., which filed for Chapter 11 bankruptcy connected July 3, 2025, seeking going-concern income of its concern divisions and a wind-down of its operations.

Joann’s determination to unopen down each operations severely impacted IG Design Group’s business, making it hard for the institution to support humanities operating results and accommodate to marketplace conditions contempt turnaround initiatives.

Economic challenges are besides affecting different longtime arts and crafts retailer.

40-year-old arts and crafts proviso retail concatenation Artist & Craftsman Supply has filed for Chapter 11 bankruptcy to reorganize, facing economical headwinds and choky lending restrictions, which severely strained the company's finances, according to Bondoro.

The 18-store, Portland, Maine-based chain's genitor Artstock listed $10 cardinal to $50 cardinal successful assets and liabilities successful its petition, filed connected Dec. 21, BankruptcyObserver reported.

The debtor owes Cambridge Savings Bank astir $1.5 cardinal connected a $4 cardinal revolving enactment of credit, Bondoro reported. It besides owes the Small Business Administration astir $1.9 cardinal successful indebtedness connected an SBA indebtedness and astir $65,000 successful claims connected recognition paper processing sales.

Artist & Craftsman Supply, which was established successful 1985, was founded arsenic a tiny creation proviso store erstwhile the arts and crafts retail manufacture was dominated by the autarkic "mom and pop" storefronts that sold a operation of arts, crafts, stationery, hardware, and bureau supplies, according to its website.

Catalog income were a apical rival successful the beginning, arsenic internet-based companies and e-commerce were inactive astir 10 years distant from getting started.