🔒Portland-based art supply retailer with national footprint seeks Chapter 11 bankruptcy protection

Artist & Craftsman Supply, a Portland-based chain with 18 U.S. stores, aims to craft a brighter future for itself as it seeks Chapter 11 bankruptcy protection and plans a move to Westbrook with a store near Rock Row. The business, through parent company Artstock Holding Co., filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Maine in December. The filing showed a range of both assets and liabilities between $10 million and $50 million, with 100 to 199 creditors affected. CEO Robert Landry told Mainebiz this week that the company is still in the early stages of the reorganization and could not elaborate on the specifics of the bankruptcy. The firm is being represented by Sam Anderson of Bernstein Shur in Portland. The case is being heard by Judge Peter Cary. In a note to customers, Artist & Craftsman said it is using the reorganization process to “restructure its liabilities and pursue what we believe is the best path forward for the company and its suppliers, employees and customers. Through this process, our intent is to reorganize and strengthen our business.” “To be very clear, we are not closing,” it added. The company cited “a challenging retail environment.” “Like many retailers, A&C has faced ongoing financial pressures in 2025 amid a challenging retail environment, including higher real estate leasing costs and softness in consumer spending,” it said in an email to customers and on social media posts. Artist & Craftsman is scheduled to meet with creditors on Jan. 26. The company has roughly 140 employees. Artist & Craftsman Supply was founded in 1985. In 2009, the company was sold to its employees and now operates under an ESOP structure, according to its website. By 2016, it had as many as 34 stores, about double the current count.

Store plans

Landry said at this stage, Artist & Craftsman has plans to close only one store, the San Diego location, though he said that was related to an expired lease, "and there were no affordable options elsewhere." With the Portland store, located at 540 Deering Ave., the lease was also an issue. "It was under a lease that expired in 2025," Landry told Mainebiz. "We could not reach a lease renewal agreement with the landlord, so we decided to move the store to Larrabee Road." The new store, set to open later this month, will be located at 100 Larrabee Road in Westbrook, across from Rock Row mixed-use development. It takes over a space formerly held by Empeople Credit Union, according to the real estate broker, Dunham Group. Landry expects the new location to drive additional traffic. "We certainly hope so," he said. "We're excited to welcome both our regular customers and new customers who shop in the Rock Row area." The vacant space at 540 Deering — 11,500 square feet — is being listed by Kaplan Co. at $13 a square foot, according to the LoopNet listing.