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Hobby Lobby Bankruptcy?


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I was chatting with some friends this morning, and we were talking about Black Friday & whatnot.  The conversation turned to Hobby Lobby and their impending bankruptcy & store closings.  HAs anyone else heard anything about this?  I did an Internet search, but only turned up Hobby Lobby's opposition to some Affordable Care Act mandates.

I do NOT want this thread to turn political.  All I want to do is confirm or refute the Hobby Lobby bankruptcy story.

Edited by Jim B
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This rumor has been on the internet since 2012. I just searched it and no concrete proof that this is true.

Exactly. There's never any shortage of gossip mongers spewing gloom and doom, with the ubiquitous preface of "I heard"...

I have a hard time believing they're losing money, which would be necessary for a "bankruptcy", as the store near me is busy constantly.

But just to fuel the fire, here's an article from August of this year...

http://usherald.com/hobby-lobby-just-announced-closing-stores-founder-reveals-alarming-reason/

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They've just built two brand new stores near me so if they're losing money they sure don't show it, if anything they're putting Michael's out of business in my area. Michael's hasn't built anew store near me since Hobby Lobby moved in and they've actually downsized a few existing locations.

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They've just built two brand new stores near me so if they're losing money they sure don't show it, if anything they're putting Michael's out of business in my area. Michael's hasn't built anew store near me since Hobby Lobby moved in and they've actually downsized a few existing locations.

Michaels has closed some stores in the last few years...

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Hobby Lobby is a religious-based business and their opposition to the Affordable Care Act started the rumors years ago that they would be going out of business. I think at most they would close 40% of their stores. Sorry, I couldn't resist that one! :D

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