Hancock Fabrics Inc., a retail chain that sells sewing supplies, is preparing for a second trip to bankruptcy court, Bloomberg News reported yesterday. The Baldwyn, Miss.-based company previously filed for bankruptcy in March 2007, soon after announcing it would close about 100 stores. The retailer re-emerged the following year. Hancock included a warning about its ability to continue as a going concern in its third-quarter filing late last year. The money-losing retailer had about $3 million in cash in the quarter ended Oct. 31. At the time, the company operated about 260 stores in 37 states, along with an e-commerce site.
