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A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
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Michaels Stores, Inc., doing business as Michaels, is a privately held retail chain of American arts and crafts store. It is North America's largest provider of arts, crafts, framing, floral and wall décor, and merchandise for makers and do-it-yourself home decorators . [ 2 ]
Leewards Creative Crafts, or Leewards, was an American crafts and fabrics retailer. It was founded in Elgin, Illinois, in 1947. The chain had approximately 87 stores at its peak. [2] In 1994, it was purchased by Michaels. [3] [4]
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