I did hear this on the news, but other than that... don't know. It will be interesting to see how much the prices go up now.
When I was in my local JoAnn's last week, I was getting some fabric cut and asked the gal if I could get a remnant that was laying on the counter (hadn't been wrapped in their paper yet)
She says, I can't sell it to you until my manager checks it to see if it's measured right. They did end up calling the manager to get the okay to let me buy it, but I thought that was a bit extreme - now it makes sense - they were going to take the buy out.