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.
Is Hobby Lobby Going Out of Business In 2022?
Hobby Lobby won’t close in 2022. This was determined by looking at the company’s store growth, which has gone up in recent years. Hobby Lobby’s trend to raise employee wages is positive for the company’s finances. Many reports of closing can be traced back through a Facebook hoax.
How Long Has Hobby Lobby Been in Business?
Hobby Lobby was founded in August 1972 by David Green. The first Hobby Lobby store opened in Oklahoma City.
The wife of the founder was an artist and her husband had made frames in their home from scratch since 1970.
Hobby Lobby Shut Down and Fired Employees
Hobby Lobby closed all its stores and put nearly all of its employees on mandatory leave without pay in April 2020.
This response was made in light of a global crisis. At the time, different states issued stay-at home orders.
The explanation doesn’t mention the fact that employees were fired. According to what can be found, employees were fired and furloughed. They returned to their stores shortly thereafter in July.
Is Hobby Lobby Doing Well Financially?
Hobby Lobby won’t publish its financial reports. Therefore, it isn’t clear what Hobby Lobby’s financial situation are. However, there are other factors that can be used to help build an estimate.
However, despite the fact that the company closed many of its stores, the overall store count has increased in recent years.
This is an example: It went from approximately 840 stores when it started in 2019 to almost 900 today.
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 does not intend to close all its stores at once. But, it is possible that there could be other reasons people feel the store is closing.
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.
But, in April the company reversed its original stance and closed all of its stores. It furloughed nearly all employees, without paying any other 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.
The news of Hobby Lobby closing its doors permanently was spread by a Facebook post that appeared over a full year later.
It used the letter written in USA TODAY by David Green, CEO of the company.
This letter announced that the company was taking the federal government to court so it wouldn’t have to cover an employee’s birth control.
This article reprinted the column’s words and included false information in order to create the appearance that it was written recenty and as a reaction to the events.
The post mentioned “liberal media” in a way that was different from the original writing.
This was followed up by an insistence that readers share the post. This happens when misinformation is spread virally on social media.
It was titled “Hobby Lobby We May Close” and spread quickly by many. Facebook was forced to take action. Politifact also checked the fact that this was a legitimate post.
Hobby Lobby was open when the post went viral. They had been operating for a long time after their April 2020 closure.
Regarding the lawsuit filed by the company against government, that was completed in 2014 and was not handed over to the company.
Hobby Lobby closing in Fargo
Hobby Lobby Fargo will continue to be open as long as there is information. It opened its first location in Fargo at 4427 13th Ave., which seems to have been a success.
To learn more, you can also read our posts on where is Hobby Lobby, if Hobby Lobby price matches, and why is Hobby Lobby closed on Sundays.
Hobby Lobby will not close its doors anytime soon. It has grown its stores over the years and paid a minimum wage.
Hobby Lobby has also stopped expanding in new markets. This is likely a sign it does not need to expand.
Many people assume that the company is going to close, mostly because of the spread of misinformation on social media. These rumours were debunked.
What Hobby Lobby customers have bought?
Who Owns Hobby Lobby Stores?
Hobby Lobby has how many employees?
Hobby Lobby is traded on the stock market?
Hobby Lobby is not a publicly traded company, and we have no plans to go public in the future.
.Is Hobby Lobby Going Out Of Business 2022? (+ Other Faqs)