Here’s a “man bites dog” story from the retail industry: The lone G Street Fabrics store near Washington, D.C., has emerged from bankruptcy protection as its giant competitor Hancock Fabrics Inc. is emptying its remaining 185 stores in going-out-of-business sales.
Both retailers were stung by the craft industry’s changing dynamics. Fewer people sew their own clothes, and those who do are buying more fabric online, leading sales at traditional stores to slump.
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