A.C. Moore closing all stores, some will become Michaels

Some of the shuttered A.C. Moore stores will become Michaels locations. According to the release, "The Michaels Companies Inc., will assume leases for up to 40 store locations."

Michaels CEO, Mark Cosby, noted, "This transaction enables us to further expand our presence in strategic markets and serve even more customers both online and in store. We are looking forward to re-opening these stores under the Michaels name in 2020 and welcoming new team members."

A.C. Moore has stopped accepting online orders as of Monday, 11/25/19, but they plan to ship any orders that have already been placed.

In the upcoming weeks, A.C. Moore will share additional information about specific store closings on their website.

Anthony Piperno, Chief Executive Officer of A.C. Moore said, "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. During this process, we will continue to provide great customer experience, while still delivering quality and value on your favorite products."