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Hancock Fabrics, which was founded in Tupelo in 1957, filed for Chapter 11 for the second time in February. In March, it announced it would liquidate its remaining assets. By July 31, its remaining stores had closed.
By Dennis Seid
Daily Journal
TUPELO The biggest business story of 2016 was the unfortunate demise of one of its oldest companies.
After nearly 60 years in business, Hancock Fabrics was forced to liquidate.
On Feb. 2, the company filed for Chapter 11 bankruptcy protection. It was the companys second time in less than a decade to file for Chapter 11. After filing in 2007, it emerged a year later.
The company haD been unable to sustain any kind of profitability, however,…
Read the full article at: https://djournal.com/news/year-review-2016-hancock-liquidation-top-business-story-year/
