Crafts and fabric retailer Joann<\/a> started this year by filing for Chapter 11 bankruptcy<\/a> in January 2025 for a second time, suffering from declining sales and inventory challenges. It eventually revealed that it would close all of its stores, numbering about 815.<\/p>\n Joann’s demise affected crafts suppliers, including IG Design Group Americas Inc., which filed for Chapter 11 bankruptcy on July 3, 2025, seeking going-concern sales of its business divisions and a wind-down of its operations.<\/p>\n Joann\u2019s decision to shut down all operations severely impacted IG Design Group\u2019s business, making it difficult for the company to maintain historical operating results and adapt to market conditions despite turnaround initiatives.<\/p>\n Economic challenges are also affecting another longtime arts and crafts retailer.<\/p>\n 40-year-old arts and crafts supply retail chain Artist & Craftsman Supply<\/a> has filed for Chapter 11 bankruptcy to reorganize, facing economic headwinds and tight lending restrictions, which severely strained the company’s finances, according to Bondoro<\/a>.<\/p>\n The 18-store, Portland, Maine-based chain’s parent Artstock listed $10 million to $50 million in assets and liabilities in its petition, filed on Dec. 21, BankruptcyObserver<\/a> reported.<\/p>\n The debtor owes Cambridge Savings Bank about $1.5 million on a $4 million revolving line of credit, Bondoro reported. It also owes the Small Business Administration about $1.9 million in debt on an SBA loan and about $65,000 in claims on credit card processing sales.<\/p>\n Artist & Craftsman Supply, which was established in 1985, was founded as a small art supply store when the arts and crafts retail industry was dominated by the independent “mom and pop” storefronts that sold a combination of arts, crafts, stationery, hardware, and office supplies, according to its website.<\/p>\n Catalog sales were a top competitor in the beginning, as internet-based companies and e-commerce were still about 10 years away from getting started.<\/p>\n More bankruptcies<\/strong><\/p>\n The chain began expanding in the mid 1990s and broadened its product choices to include children’s art supplies, school materials, novelty items, and eclectic goods.<\/p>\n Artist & Craftsman Supply is currently one of the largest independent art supply retail chains in the U.S., operating 18 stores in 11 states, according to Bodoro. Its website indicates that it had 19 stores before permanently closing its Hyattsville, Md., location.<\/p>\n California<\/strong><\/p>\n<\/li>\n Kentucky<\/strong><\/p>\n<\/li>\n Maine<\/strong><\/p>\n<\/li>\n Maryland<\/strong><\/p>\n<\/li>\n Missouri<\/strong><\/p>\n<\/li>\n New York<\/strong><\/p>\n<\/li>\n Oregon<\/strong><\/p>\n<\/li>\n Pennsylvania<\/strong><\/p>\n<\/li>\n South Carolina<\/strong><\/p>\n<\/li>\n Washington<\/strong><\/p>\n<\/li>\n Wisconsin. <\/strong><\/p>\n<\/li>\n<\/ul>\n The art supply chain<\/a> also plans to open a new location in Westbrook, Maine, in January 2026, the website said.<\/p>\n Artist & Craftsman Supply became a 100% employee-owned company in 2016 with 34 brick-and-mortar locations, before closing 16 locations over the next nine years.<\/p>\n The company employs 138 workers, comprising 119 full-time and 19 part-time staff. The retailer’s customer base consists of about 120,000 rewards members.<\/p>\n Painting<\/strong><\/p>\n<\/li>\n Drawing<\/strong><\/p>\n<\/li>\n Sculpting<\/strong><\/p>\n<\/li>\n Crafting<\/strong><\/p>\n<\/li>\n Printmaking<\/strong><\/p>\n<\/li>\n Surfaces<\/strong><\/p>\n<\/li>\n Studio<\/strong><\/p>\n<\/li>\n Specialty needs<\/strong><\/p>\n<\/li>\n Gifts<\/strong><\/p>\n<\/li>\n<\/ul>\n The retail chain provides products for painting, drawing, sculpting, crafting, printmaking, surfaces, studio, specialty needs, and gifts.<\/p>\n The arts and crafts supply retailer offers popular brands, including Princeton, Speedball, Jacquard, Multicraft, Sakura, Djeco, Kikkerland, Golden, Asmodee, and Windsor & Newton.<\/p>\n Princeton<\/strong><\/p>\n<\/li>\n Speedball<\/strong><\/p>\n<\/li>\n Jacquar<\/strong><\/p>\n<\/li>\n Multicraft<\/strong><\/p>\n<\/li>\n Sakura<\/strong><\/p>\n<\/li>\n Djeco<\/strong><\/p>\n<\/li>\n Kikkerland<\/strong><\/p>\n<\/li>\n Golden<\/strong><\/p>\n<\/li>\n Asmodee<\/strong><\/p>\n<\/li>\n Windsor & Newton.<\/strong><\/p>\n<\/li>\n<\/ul>\n Related: 127-year-old furniture retail icon closes down, no bankruptcy<\/a><\/strong><\/p>\n This story was originally published by TheStreet<\/a> on Dec 27, 2025, where it first appeared in the Retail<\/a> section. Add TheStreet as a Preferred Source by clicking here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The arts and crafts supply retail sector has faced store closings over the last five years for a…\n","protected":false},"author":3,"featured_media":475404,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[215460,31012,64,28970,215461,134301,65724,67,132,68],"class_list":{"0":"post-475403","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-artist-craftsman-supply","9":"tag-arts-and-crafts","10":"tag-business","11":"tag-chapter-11-bankruptcy","12":"tag-ig-design","13":"tag-retail-chain","14":"tag-retail-sector","15":"tag-united-states","16":"tag-unitedstates","17":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115792820738083087","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/475403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=475403"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/475403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/475404"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=475403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=475403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=475403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} Artist & Craftsman Supply files for Chapter 11 bankruptcy to reorganize its business.Shutterstock <\/p>\n
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