Hobby Lobby, the home goods and crafts retailer, is putting the liquidation rumors to rest. The company announced Wednesday that it will not be closing down and, in fact, will be adding 70 new stores to its roster by year-end.
The Oklahoma City-based chain will enter new markets, opening its first retail locations in Oregon and Vermont. With these additions, there will be more than 620 Hobby Lobby locations in the U.S.
News of the chain's rumored closing arose following Hobby Lobby's legal battle against a provision in the Affordable Care Act to provide contraception for employees. Hobby Lobby has asked the U.S. Supreme Court to take up its case against the federal government's requirement to provide the "morning-after pill" and "week-after pill" for free under its insurance plan. The Green family, which prides itself on its Christian values, says that paying for insurance plans offering emergency contraceptive drugs violates its religious beliefs. The company acknowledged that the lawsuit "may be driving the incorrect rumors" of store closings.
-See this Hobby Lobby press release
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