Is Hobby Lobby Going Out Of Business 2022? (+ Other Faqs)
Hobby Lobby being involved in so many controversial issues, it only makes sense that people assume the company has gone out of business.
Hobby Lobby – Is it closing down in 2022?
Hobby Lobby has not declared bankruptcy in 2022. This decision was made by looking at Hobby Lobby’s growth in stores, which has increased significantly over the past years. Hobby Lobby also continues its tradition of increasing employee wages. This is a positive sign in the long-term financial picture. Overall, most reports of closure can be traced back to a Facebook hoax.
Hobby Lobby Has Been In Business for How Many Years?
Hobby Lobby was founded in August 1972 by David Green. The first Hobby Lobby store opened in Oklahoma City.
But, his wife and founder had worked in art and crafts since 1970, and made custom frames right from their house.
Hobby Lobby is doing well financially
Hobby Lobby doesn’t release financial reports. It’s not clear how Hobby Lobby’s finances look. However, we can examine other factors and make a guess.
Regardless of the number of stores, the company’s closed, the total store count has gone up in the past few years.
The number of outlets has increased to over 900 from the 840 in January 2019.
Hobby Lobby also continues its tradition of increasing the minimum wages, which was increased to $18.50/hour in the last change.
Also, it only ships within 48 states. The company does not ship internationally to Canada.
Hobby Lobby is closing its stores permanently
Hobby Lobby won’t close its stores forever, but it could have other causes.
One of these sources dates from 2020 when the same global event was first discovered in many places around the country.
Hobby Lobby insisted on closing down at first, insisting that they were an essential company because they provided school supplies.
However, it changed its mind at the beginning April and shut down almost all stores.
When the company made this announcement, the news was spread incorrectly across social media, with some people interpreting it as the business closing down permanently.
A Facebook post was posted over a year later announcing that Hobby Lobby would be closing permanently.
It used the letter written in USA TODAY by David Green, CEO of the company.
The letter stated that the company would sue the federal government for not covering an employee’s contraception.
This post took the words from this column and added some false information to make it seem like it was written recently and in response to events of the time.
For starters, the post made references to the “liberal media” that were not in the original piece of writing.
This was followed up by an insistence that readers share the post. This happens when misinformation is spread virally on social media.
Post titled Hobby Lobby, We May Close was widely shared and liked by many. Facebook eventually had to get involved. Politifact verified that the posting was factual.
Hobby Lobby was open for business even though it had closed down April 2020.
The lawsuit that the company had brought against the government was overturned in 2014. It was concluded in 2014 and the company did not have to be shut down.
Hobby Lobby is closing Fargo
Hobby Lobby in Fargo is still open, as far as information is known. Hobby Lobby opened its Fargo location at 4427 13th Ave. in 2003. It seems that the company is doing well.
Read our other posts to find out more: Hobby Lobby hours, pricing match Hobby Lobby products, why Hobby Lobby shuts down on Sundays.
Hobby Lobby has not been insolvent for a long time. In fact, it is growing its retail presence over the years.
Hobby Lobby is also not expanding into new markets, which is probably a sign that it doesn’t need to for now.
Many people assume that the company is going to close, mostly because of the spread of misinformation on social media. These rumours, however, have been disproven.
Who purchased Hobby Lobby products?
Hobby Lobby Stores: Who is the owner?
Hobby Lobby Has How Many People?
Hobby Lobby Is Traded on The Stock Market
Hobby Lobby isn’t a publicly traded corporation and there are no plans for Hobby Lobby to be.
.Is Hobby Lobby Going Out Of Business 2022? (+ Other Faqs)