SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Sopris Capital Advisors LLC (Last) (First) (Middle) 314 SOUTH GALENA STREET, SUITE 300 (Street) ASPEN CO 81611-1818 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol HANCOCK FABRICS INC [ HKFIQ.PK ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 06/12/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/12/2007		P		9,300	A	$2.8075	456,810	I	Through managed accounts(1)
Common Stock	06/13/2007		P		13,800	A	$2.8625	470,610	I	Through managed accounts(1)
Common Stock	06/12/2007		P		47,200	A	$2.8075	2,189,790	I	Through a partnership and managed accounts(2)(3)(4)
Common Stock	06/13/2007		P		66,200	A	$2.8625	2,255,990	I	Through a partnership and managed accounts(2)(3)(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Sopris Capital Advisors LLC (Last) (First) (Middle) 314 SOUTH GALENA STREET, SUITE 300 (Street) ASPEN CO 81611-1818 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* ASPEN ADVISORS LLC (Last) (First) (Middle) 152 WEST 57TH STREET 46TH FLOOR (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* HECHT NIKOS (Last) (First) (Middle) C/O ASPEN ADVISORS LLC 152 WEST 57TH STREET - 46TH FLOOR (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Sopris Partners, Series A of Sopris Capital Partners, L.P. (Last) (First) (Middle) 314 SOUTH GALENA STREET, SUITE 300 (Street) ASPEN CO 81611-1818 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Sopris Capital LLC (Last) (First) (Middle) 314 SOUTH GALENA STREET, SUITE 300 (Street) ASPEN CO 81611-1818 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. All of the 470,610 shares reported in Table I, are owned by private institutional accounts (the "Aspen Managed Accounts") managed by Aspen Advisors LLC, a Delaware limited liability company ("Aspen Advisors"). Aspen Advisors disclaims any beneficial interest in the securities owned by the Aspen Managed Accounts. Mr. Nikos Hecht is the managing member of Aspen Advisors. By virtue of such status he may be deemed the beneficial owner of the securities held by the Aspen Managed Accounts under Regulation 13D-G under the Exchange Act. Mr. Hecht disclaims any beneficial interest in the securities owned by the Aspen Managed Accounts. Except as expressly acknowledged herein, this report shall not be deemed an admission that any such person or entity is the beneficial owner of, any such securities for purposes of Section 16 of the Exchange Act or for any other purpose.

2. Of the 2,255,990 shares reported in Table I, Sopris Partners Series A, a series of Sopris Capital Partners, L.P, a Delaware limited partnership (the "Sopris Partnership"), owns 1,616,940 shares and private institutional accounts (the "Sopris Managed Accounts") managed by Sopris Capital Advisors LLC, a Delaware limited liability company ("Sopris Advisors") own 639,050 shares. Sopris Capital LLC (the "Sopris General Partner") is the general partner of the Sopris Partnership. The Sopris Partnership and the Sopris General Partner disclaim any beneficial interest in the securities owned by the Sopris Managed Accounts, and the Sopris General Partner disclaims any beneficial interest in the securities owned by the Sopris Partnership in excess of a .61% pecuniary interest therein, calculated in accordance with Rules 16(a)-1(a)(2) and (a)(3) under the Exchange Act. (Continued in Footnote 3)

3. Sopris Advisors disclaims any beneficial interest in the securities owned by the Sopris Partnership and the Sopris Managed Accounts. Mr. Nikos Hecht is the sole member of the managing member of the Sopris General Partner and the managing member of Sopris Advisors. By virtue of such status he may be deemed the beneficial owner of the securities held by the Sopris Partnership and the Sopris Managed Accounts under Regulation 13D-G under the Exchange Act. Mr. Hecht disclaims any beneficial interest in the securities owned by the Sopris Partnership other than a .52% pecuniary interest in such shares, calculated in accordance with rules 16(a)-1(a)(2) and (a)(3). He disclaims any beneficial interest in the securities owned by the Sopris Managed Accounts. (Continued in Footnote 4)

4. Except as expressly acknowledged herein, this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has a pecuniary interest, in any such securities for purposes of Section 16 of the Exchange Act or for any other purpose.

Remarks:

	SOPRIS PARTNERS SERIES A, a series of SOPRIS CAPITAL PARTNERS, L.P. By: SOPRIS CAPITAL, LLC, Its general partner By: /s/ NIKOS HECHT, Sole Member of the Managing Member	06/14/2007
	SOPRIS CAPITAL, LLC By: /s/ NIKOS HECHT, Sole Member of the Managing Member	06/14/2007
	ASPEN ADVISORS LLC By: /s/ NIKOS HECHT, Managing Member	06/14/2007
	SOPRIS CAPITAL ADVISORS, LLC By: /s/ NIKOS HECHT, Managing Member	06/14/2007
	/s/ NIKOS HECHT	06/14/2007
	** Signature of Reporting Person	Date
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