A.C. Moore: Nine local A.C. Moore stores are closing, laying off 259 employees

Nine A.C. Moore stores in Maryland will close at the end of February, resulting in 259 layoffs. The arts and crafts retailer is shuttering all 145 of its stores across the U.S., but had said in November that some locations would be turned into Michaels. The two subsidiaries of the Michaels Cos. Inc. (Nasdaq: MIK) have entered into an agreement that gives the retailer the right to lease up to 40 store locations as part of a $58 million deal with A.C. Moore Inc., a public filing shows. A Dec. 17...