Another retailer is closing all of its stores.
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.
"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," A.C. Moore CEO Anthony Piperno said in the release. "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."
According to the company, plans for the closings will be shared in the upcoming weeks and the A.C. Moore website will stop accepting online orders Monday. Previously placed orders will still ship, the company said.
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A.C. Moore officials did not immediately respond to USA TODAY's request for comment. It was unclear Monday whether the retailer will still hold a Black Friday sale. Stores were scheduled to open at 6 p.m. local time Thanksgiving.
Michaels, the nation's largest arts and crafts retailer, will assume the leases of up to 40 stores, a lease on an East Coast distribution facility and purchase A.C. Moore's intellectual property, the release said.
"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 said in the release. "We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members."
Not including A.C. Moore, nearly 9,100 store closures have been announced in 2019, 55% higher than total closures in 2018, according to a recent report from global marketing research firm Coresight Research.
Retailers that closed or are closing all locations in 2019 include: Payless ShoeSource, Dressbarn and Gymboree.
Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko
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A.C. Moore closing all stores, up to 40 locations set to become Michaels - USA TODAY
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