Hancock Fabrics Provides Update on 10-Q Filings

  
    
  
  
    
      Hancock Fabrics, Inc. (NYSE: HKF), today provided an update as to the 
      expected timing of the filing of its Quarterly Reports on Form 10-Q for 
      the first three quarterly periods of the fiscal year ended February 3, 
      2007 with the Securities and Exchange Commission. The Company had 
      previously reported that it had received a 10-Q filing extension from 
      its bank group through February 28, 2007. The Company now expects that 
      it will take at least another four to five weeks to file its Form 10-Qs. 
      Accordingly, Hancock has requested an additional extension from the bank 
      group.
    
    
      Hancock Fabrics, Inc. – America's Fabric Store – 
      is committed to serving creative enthusiasts with a complete selection 
      of fashion and home decorating textiles, sewing accessories, needlecraft 
      supplies and sewing machines. The Company operates 403 retail stores in 
      40 states and an Internet store at www.hancockfabrics.com.