The arts and crafts supply retail sector has faced store closures over the past five years for a variety of reasons, ranging from ownership withdrawals to severe financial difficulties.
As it emerged from the Covid-19 pandemic, regional crafts retailer Beverly’s Fabric & Crafts, which operated about 40 stores in California for 48 years, closed all of its stores in late 2020 when the chain’s owners decided to retire, the San Luis Obispo Tribune reported at the time.
Crafts and fabric retailer Joann began this year by filing for Chapter 11 bankruptcy in January 2025 for the second time, suffering from declining sales and inventory challenges. It eventually revealed that it would be closing all of its stores, which number around 815.
Joann’s death affected trade suppliers, including IG Design Group Americas Inc., which filed for Chapter 11 bankruptcy on July 3, 2025, seeking a trade sale of its business divisions and winding down of its operations.
Joann’s decision to close all operations had a strong impact on IG Design Group’s business, making it difficult for the company to maintain historical operating results and adapt to market conditions despite turnaround initiatives.
Economic challenges are also affecting another longtime arts and crafts retailer.
The 40-year-old arts and crafts retail chain Artist & Craftsman Supply has filed for Chapter 11 bankruptcy to reorganize, facing headwinds from the economy and tight lending restrictions, which have severely squeezed the company’s finances, according to Bondoro.
Artstock parent of the 18-store chain, Portland, Maine listed $10 million to $50 million in assets and liabilities in its petition, filed on December 21, BankruptcyObserver reported.
The debtor owes Cambridge Savings Bank about $1.5 million on a $4 million revolving line of credit, Bondoro reported. It also owes the Small Business Administration about $1.9 million in debt on SBA loans and about $65,000 in claims on credit card processing sales.
Artist & Craftsman Supply, which was founded in 1985, was founded as a small art supply store when the arts and crafts retail industry was dominated by independent “mom and pop” stores that sold a variety of arts, crafts, stationery, hardware, and office supplies, according to its website.
Catalog sales were the top competitor in the beginning, as internet-based companies and e-commerce were still about 10 years away from starting.