Dossier
Hobby Lobby
Coverage of Hobby Lobby in the Nexus archive.
- How Apollo-owned Michaels turned two rivals’ bankruptcies into a growth strategy
Michaels Stores expanded its party supplies and fabric offerings by capitalizing on the bankruptcies of Party City and JoAnn Fabrics. The company rapidly implemented new services and inventory, leveraging its private equity ownership under Apollo Global Management to bypass public market scrutiny and accelerate decision-making.