We hear a lot these days about local yarn shops closing their doors, but less often do big players — or what we think of as big players, anyway — in the yarn industry shut down.
But that’s what’s happening soon with Classic Elite Yarns, which announced on its blog that it will be “closing its doors in the very near future.”
Their post doesn’t provide a lot of detail on the why, but one of the company’s first creative directors, Kristin Nicholas, explained on her blog that the yarn industry is a tough business to be in and no one really knows what is going on behind the scenes (which she learned when she saw what was behind all those glossy back-cover ads on the major knitting magazines).
I agree with her about many of the factors that make things hard for yarn companies these days, from the aforementioned closure of local yarn shops to the proliferation of small-scale yarn producers able to reach customers online and at shows. And there will always be people who only buy the bargain yarns from the big-box stores. And running a company with employees, production and distribution will always be hard and expensive.
I’m sad to see Classic Elite go. They have made some great yarns through the years. I’m actually working on a project with one of their yarns now. I love the sentiment from company president Betsy Perry, who said:
I am proud of what we did for all these years. Classic Elite Yarns will live on – on your needles or in your stash, as finished pieces, on Ravelry, and yes, for a while anyway, in shops. But as it fades away, be sure you do your best to enjoy the craft and do your best to support those who bring you the fibers and designs we all love.
Did you use Classic Elite Yarns? I’d love to know about your favorites.
I have to admit, this is the first I’d heard that CEY was closing. That’s actually really sad! But, they’ll live on in my stash for a while yet! I’ve loved their yarn and stashed quite a bit of it. 🙂