Michaels says that it plans to expand its fabric, sewing and yarn assortment by adding over 600 products across new and existing brands.

Michaels, which has eight local stores, has completed its acquisition of bankrupt Joann's intellectual property and labels.

Just days after the last remaining Joann locations were closed following a Chapter 11 bankruptcy filing and liquidation, a former competitor has swooped in to acquire the former company’s intellectual property and private label brands.