Online orders are no longer being accepted, but any orders made before the announcement will be fulfilled.
No timeline of going out of business sales and when the stores will close, but company officials said it will be listed on the A.C. Moore website, CNN reported.
A.C. Moore currently has more than 145 stores, the company said in a press release. Michaels will operate about 40 of them starting in 2020. Michaels currently has more than 1,260 stores.
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