While the stores are not related, their founders were brothers. The Hancock Fabric Center (later to become Hancock's of Paducah) was started by William Hancock in 1952. It is still family owned and operated. Hancock Textiles (later to become the Hancock Fabrics chain) was started in 1955 by William's brother, L. D.
http://www.hancocks-paducah.com/content--name-About-Us