After a Year of Record Retail Bankruptcies, Michaels Agrees to Go Private in $5 Billion Deal

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After a Year of Record Retail Bankruptcies, Michaels Agrees to Go Private in $5 Billion Deal

While net sales of non-essential retailers suffered during the pandemic, the arts and crafts banner Michaels Stores saw double-digit growth in both the second and third quarters of 2020, showing consumer appetite for hobbies while confining themselves to their homes.

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