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.

If you are a crafty mom who mourned the recent closure of Joann’s Fabrics, boy, do we have some exciting news for you. Joann’s, the beloved store once known for its craft, fabrics, and all things ...