Michaels Acquires 10 Million-Customer Database From Hancock

Price: $ 16.99

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Michaels has acquired the rights to the Hancock Fabrics brand, domain names, mailing lists and intellectual property from U.S. Bankruptcy Court in Delaware for $1.3 million. Michaels, an arts and crafts retail chain, does not sell fabric and sewing materials within its stores, but sells them exclusively online, signaling that the brand may attempt to expand further into that category.

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