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 ...

(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.

Joann, the beloved fabrics, arts, and crafts retailer, is finally shutting its doors for good after a long, slow goodbye. While many of its 800 stores have already been shuttered since the company ...

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, ...