Is Hobby Lobby Going Out Of Business 2022? (+ Other Faqs)

People can assume Hobby Lobby is out of business, considering its history in many scandals.

This was due to the fact that this company closed recently. So, if you’re interested in knowing about the future of the company, read this article to learn more!

Hobby Lobby is Going out of Business in 2022

Hobby Lobby won’t close in 2022. The company’s recent store growth has led to this conclusion. Hobby Lobby continues to increase employee salaries, which is good news for its finances. Most closure reports can be traced to a Facebook hoax.

You can read this article for more information about Hobby Lobby closing down, as well as the reasons why they think so, what it might be, and how to avoid it.

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.

However, the founder and his wife had been working in arts and crafts, specifically making custom frames from their home, since 1970.

Hobby Lobby Shut Down and Fired Employees

Hobby Lobby closed its entire stores in March 2020 and sent nearly all its employees on leave.

The move came in response to the worldwide crisis first recorded in this country. Different states had been issuing stay at home orders.

Officially, the company stated after the fact that the company had “ended emergency leave pay and suspended the use company-provided vacation time off benefits and vacation”.

This explanation leaves out the mention that they had fired employees. The employees were furloughed, and they returned to work when the store reopened in July.

Is Hobby Lobby 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 continues to increase the minimum wage. In fact, the latest change took it up to $18.50 an hr.

The company also only ships to 48 states and doesn’t offer international shipping, not even to Canada, indicating that it’s comfortable with its current market and customer base.

Hobby Lobby closing stores indefinitely

Hobby Lobby is not closing its stores permanently at this time, but there are different possible sources for why people think that the company is going out of business.

One of the sources comes from early 2020 during the period when one worldwide event was first being detected in several places across the country, and stay-at-home orders were being issued.

Hobby Lobby was initially reluctant to close its doors, as they believed it was an indispensable business that provided supplies for schools and fabrics.

The company changed its stance at the beginning of April when it shut down all stores and laid off almost all workers without any pay or benefits.

The announcement of this company was inaccurately reported on social media. Some thought that it would lead to the closure of the entire business.

A Facebook post was posted over a year later announcing that Hobby Lobby would be closing permanently.

It used a note that David Green, company CEO, had written to USA TODAY in 2012.

This letter informed the government that it would not have to provide birth control coverage for employees.

This post borrowed the words from the above column but added false information so it appears it was created recently in response and to actual events.

First, it made reference to “liberal media”, which was not mentioned in the original article.

The reference was then followed by an appeal to the reader to share it. This is often only a small piece of misinformation the creator hopes to spread on social media.

It was titled “Hobby Lobby We May Close” and spread quickly by many. Facebook was forced to take action. Politifact verified that the posting was factual.

At the time this post was making the rounds, Hobby Lobby had already reopened and had been in operation long after closing down in April 2020.

In terms of the lawsuit brought by the company against the government, this was resolved in 2014 and the firm was not required to cease operations.

Hobby Lobby closing in Fargo

As far as the information is available, Hobby Lobby is not closing in Fargo. Hobby Lobby’s Fargo store opened at 4427 13th Ave. In 2003. The brand seems to be doing well.

Our posts about Hobby Lobby locations, price matching at Hobby Lobby and Sunday closings of Hobby Lobby are also worth reading.

Conclusion

Hobby Lobby will not close its doors anytime soon. It has grown its stores over the years and paid a minimum wage.

Hobby Lobby does not plan to enter new markets.

Due to the widespread spread of misinformation via social media, many people think that the company may be closing. These rumours, however, have been disproven.

What Hobby Lobby customers have bought?

Green family

Hobby Lobby Stores Owned by Whom?

David Green

How Many Employees Does Hobby Lobby Have?

43,000 employees

Is Hobby Lobby Traded On The Stock Market?

Hobby Lobby, Inc. is not publicly traded and does not intend to make it public.

.Is Hobby Lobby Going Out Of Business 2022? (+ Other Faqs)