Sewing Business Blog

HancockFabrics.com Goes Live

September 16, 2008 by S. Denise Hoyle Leave a Comment

Vcommerce Corporation ( http://www.vcommerce.com ), the leader in SaaS end-to-end eCommerce services announced today that www.hancockfabrics.com, the new eCommerce site of Hancock Fabrics, Inc (OTC symbol: HKFI), has gone live. In response to increasing need to find a broad and deep enterprise class eCommerce platform that would improve their order capture, order management and order fulfillment solutions, Hancock Fabrics conducted an extensive search for a partner with true end-to- end platform capabilities able to support Hancock Fabric’s ongoing innovation and drive for competitive advantage.

Hancock Fabrics selected Vcommerce based on their proven ability to execute, the completeness of the eCommerce solution, their robust, scalable platform, and their team’s knowledge, expertise, and willingness to understand and execute on Hancock Fabrics eCommerce strategy. “When we were starting our search for an eCommerce platform, we knew we needed someone with robust end-to-end capabilities to help us reach our long term revenue goals,” said Chris Elledge, Chief Technology Officer of Hancock Fabrics, Inc. “We needed a partner to dive in and understand our business. That required more than technology. Vcommerce not only had the platform and client base to prove to us that they could execute, they also have the team in place, constantly providing us with feedback and assistance to make our eCommerce plans come to fruition.”


Hancock Fabrics, Inc. is a specialty retailer of fabric and related home sewing and decorating accessories with over 250 million dollars in annual revenue. The company operates retail fabric stores in 37 states. Vcommerce and Prithvi Solutions ( http://www.prithvisolutions.com ) worked together closely during the implementation to create a site with complete end-to-end eCommerce experience for Hancock Fabrics. Vcommerce Enterprise(TM) seamlessly integrates with Hancock Fabrics business systems for order capture, order management, order fulfillment and online marketing. The site is also seamlessly integrated with best of class third-party components from FAST, Omniture and RichFX.


“We are excited to have successfully launched the new Hancock Fabrics eCommerce site, and are grateful to Prithvi for the huge part they played in that success,” said Bob Tuttle, President and CEO. “Hancock came to us with complex requirements that needed a true end-to-end platform – one with order capture, order management and order fulfillment capabilities that were flexible enough to meet the demands of their specific business model. We had the platform and team to answer the challenge and together we have launched a fantastic end-to-end eCommerce solution.”


Hancock Fabrics, Inc. — America’s Fabric Store — is committed to serving creative enthusiasts with a complete selection of fashion and home decorating textiles, sewing accessories, needlecraft supplies and sewing machines, through retail stores and an Internet store at http://www.hancockfabrics.com. Founded in 1957, Hancock remains committed to serving the nation’s home sewing and home decorating market. Hancock carries a complete selection of fabrics and accessories for the individual and the home and sells its merchandise at guaranteed low prices.

Hancock Fabrics Comes Out of Bankruptcy

August 5, 2008 by S. Denise Hoyle Leave a Comment

Hancock Fabrics, Inc. announced this week that it has emerged from Chapter 11 bankruptcy protection after successfully restructuring its business operations and satisfying the conditions to effectiveness set forth in the Plan of Reorganization (the “Plan”) confirmed by the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) on July 22, 2008. In conjunction with the Plan, Hancock Fabrics has successfully closed a $100 million exit financing facility provided by GE Commercial Finance Corporate Lending and has issued $20 million of secured notes and warrants in connection with a rights offering to certain of its shareholders.


Founded in 1957 in Baldwyn, Miss., Hancock Fabrics is a specialty retailer of fashion and home decorating textiles. From stores in 37 states and online, their merchandise includes fabrics, sewing accessories, sewing machines and needlecraft supplies.


“This is a huge milestone and a very happy day for Hancock Fabrics and all of our associates, customers, business partners and shareholders. We are extremely pleased to have confirmed a Plan of Reorganization that provides for the payment in full of all of our creditors,” said Jane Aggers, President and Chief Executive Officer of Hancock Fabrics. “Through this restructuring process we have effectively addressed our real estate portfolio, as well as financial and operational challenges, creating a strong foundation for the future success of Hancock Fabrics. The Company now has a stronger balance sheet, cash to fund operations and a streamlined store portfolio that will allow us to compete successfully in our industry. The rapid and successful restructuring of Hancock Fabrics is a testament to our outstanding associates, supportive suppliers and professional partners, and we appreciate their hard work and dedication throughout this process.”

Read more about this story at Fox Business.

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