Michaels has acquired the intellectual property and private label brands of Joann Fabrics, which recently declared bankruptcy. This acquisition includes popular Joann brands like Big Twist and expands ...

Michaels announced it has acquired the intellectual property and private label brands of former competitor Joann. The arts and crafts store said it's planning a "significant expansion of fabric, ...

After filing for Chapter 11 bankruptcy and having its remaining assets sold, Joann Fabrics closed all 800 of its craft stores early this year, including locations in Reno, Carson City and Elko. Now, ...

(CNN) – Michaels is jumping into the void left by the collapse of Joann Fabrics. Michaels announced it is buying the fabric retailer’s private label and drastically expanding its sewing selection.

The clearance sale started Friday at the Joann fabric store on Kietzke Lane in Reno. The aisles were growing increasingly bare Friday afternoon as dozens of people bought fabric, yarn, craft supplies ...