Hancock Fabrics closing in Spokane, Spokane Valley

Two Hancock Fabrics stores in Spokane County will close as part of a bankruptcy declared earlier this month by the Mississipi-based fabric retailer.

Hancock Fabrics, which was founded in 1957 and employs 4,500 employees company-wide, said it will close 70 of its 260 stores.

Hancock blamed the bankruptcy, in part, on underfunding in its retirement plans.

“The company has experienced a challenging business environment and has been burdened by signficant legacy cost,” according to documents filed by the company.

The local stores that will close are at 1020 W. Francis in Spokane and 15735 E. Broadway in Spokane Valley. Hancock also is closing two other stores in Washington, in Yakima and Vancouver.

The Spokane Valley store moved into a smaller location just two years ago when company officials said the new store would focus only on fabric.

Hancock spokeswoman Brenda Adrian said closing sales have begun, but final dates of operations have not been announced.

A Hancock Fabrics in Hayden will remain open. But ones in Twin Falls and Idaho Falls also are on the closing list.