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, ...

(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.

It's good news for crafters!

Joann's bankruptcy and closure meant that shoppers lost a place to purchase fabric, yarn and sewing supplies. But Michaels, the popular arts-and-crafts retailer, recently acquired Joann's intellectual ...