Michaels investigates possible breach of payment cards

|By:, SA News Editor

Michaels Companies has become the latest major retailer in recent weeks to say it is looking into a possible or actual cyberattack against its payment-card network.

However, it's not clear how many cards may have been compromised, when the breach might have taken place, or whether the attack is still going on.

The hacking assault would be the second against Michaels since 2011, and comes as the arts and craft retailer prepares for an IPO. Its main investors include Blackstone (BX) and Bain Capital.