Is Hobby Lobby Going Out Of Business 2022?

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Hobby Lobby being involved in so many controversial issues, it only makes sense that people assume the company has gone out of business.

This idea was strengthened by the company’s recent closure. This article will tell you more about the future plans for the company.

Hobby Lobby – Is it closing down in 2022?

Hobby Lobby does not plan to close down 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 is also maintaining its trend of raising employee wages, which is a positive sign for the finances. Overall, most reports of closure can be traced back to a Facebook hoax.

Continue reading this article to learn more about whether Hobby Lobby is going out of business, including why people think it is, why it likely isn’t, and more!

What’s the longest Hobby Lobby has been in business?

Hobby Lobby started in Oklahoma City, in August 1972.

But, his wife and founder had worked in art and crafts since 1970, and made custom frames right from their house.

Hobby Lobby Closure and Fire Employees

Hobby Lobby closed all its stores and put nearly all of its employees on mandatory leave without pay in April 2020.

This move was in response to a worldwide crisis that was first being recorded in the country, and different states were issuing stay-at-home orders.

The company released a statement saying that they were “ending emergency leave pay” and had suspended the provision of paid vacation and time-off benefits.

This explanation does not make any mention that the employees had been fired. According to what can be found, employees were fired and furloughed. They returned to their stores shortly thereafter in July.

Hobby Lobby Is Doing Financially Well?

Hobby Lobby does not release its financial reports, so it’s unclear how the company’s finances are, but we can look at other factors to build a good guess.

Regardless of the number of stores, the company’s closed, the total store count has gone up in the past few years.

As an example, the number of stores has increased from around 840 at the beginning 2019 to nearly 900 by today’s standards.

Hobby Lobby has also maintained its trend of raising the minimum wage, with the most recent change taking it to $18.50 an hour.

Also, it only ships within 48 states. The company does not ship internationally to Canada.

Hobby Lobby closing stores indefinitely

Hobby Lobby will not close its stores for good at the moment. However, there are many reasons why some people believe that Hobby Lobby may be closing down.

The first detection of a global phenomenon in the United States was made at various locations throughout the country. This is when stay-at–home orders were 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.

However, the company reversed this position at April’s beginning and closed its stores, furloughing almost all employees and removing any benefits.

The company’s announcement was incorrectly spread across social media. Some people mistakenly interpreted it to mean that the company would be closing permanently.

The news of Hobby Lobby closing its doors permanently was spread by a Facebook post that appeared over a full year later.

It used a letter from David Green (CEO) that was printed in USA TODAY back 2012.

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 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.

To begin with, the post made mentions to “liberal Media” that weren’t in the original piece.

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 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.

Concerning the suit the company brought against the government in 2014, it was settled and the company wasn’t forced to close down.

Hobby Lobby in Fargo is Closing?

Hobby Lobby will not be closing Fargo, according to all information. Hobby Lobby opened its Fargo location at 4427 13th Ave. in 2003. It seems that the company is doing well.

You can read more about Hobby Lobby’s location, whether Hobby Lobby prices match, and why Hobby Lobby is closed Sundays.

Conclusion

Hobby Lobby won’t close down anytime soon. The company has seen its business grow over time and its minimum wage increase.

Hobby Lobby’s decision to not expand into new markets is also a signal that Hobby Lobby doesn’t want to.

Because of widespread misinformation and social media posts, many believe the company is closing. These rumours however have been proven false.