US News Joann moves to close 500 of its stores across the US amid bankruptcy

The Helper · Feb 13, 2025

Struggling fabric and crafts seller Joann plans to close about 500 of its stores across the U.S. — or more than half of its current nationwide footprint.

The move, announced Wednesday, arrives amid a tumultuous time for Joann. Last month, the Hudson, Ohio-based retailer filed for Chapter 11 bankruptcy protection for the second time within a year, with the company pointing to issues like sluggish consumer demand and inventory shortages.

Joann previously sought Chapter 11 in March 2024 and later emerged as a private company. But after operational challenges continued to pile up, Joann filed for bankruptcy again in January. It’s now looking to sell the business — and maintained in a filing Wednesday that closing “underperforming” locations is necessary to complete that process.

“This was a very difficult decision to make, given the major impact we know it will have on our Team Members, our customers and all of the communities we serve,” the company said in a statement sent to The Associated Press. “(But) right-sizing our store footprint is a critical part of our efforts to ensure the best path forward.”

Joann moves to close 500 of its stores across the US amid bankruptcy

Struggling fabric and crafts seller Joann plans to close about 500 of its stores across the U.S. — or more than half of its current nationwide footprint.

apnews.com

I have a few girl friends that are going to be upset on this news. Sad that the big fabric store is doing bad. Probably cheap Internet stuff undercutting them.

The Helper · Feb 25, 2025

Joann to shutter all 800 fabric stores after failing to find a buyer to save its locations

The craft retailer is shutting down after more than eight decades in business.

Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open.

In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction.

"JOANN leadership, our Board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business," the company said. "We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders. We deeply appreciate our dedicated Team Members, our customers and communities across the nation for their unwavering support for more than 80 years.”