Joann Announces Closure of Over 500 Stores Amid Bankruptcy Restructuring
Joann, the embattled fabric and craft retailer, is closing more than 500 of its approximately 850 stores across 49 states as part of its ongoing bankruptcy restructuring. The company, which filed for Chapter 11 bankruptcy protection in January 2025 for the second time in less than a year, announced the closures on February 12, 2025. The decision comes after a careful analysis of store performance and strategic fit, aiming to “right-size its store footprint.”
The states most affected by the closures include California, Florida, Michigan, Ohio, Pennsylvania, Illinois, New York, Washington, and Indiana. California alone will see 61 stores shuttered, while Florida will lose 36 locations. In Colorado, six stores are set to close, leaving eight remaining in the state. The affected Colorado locations include stores in Aurora, Boulder, Centennial, Loveland, and Pueblo.
Joann’s leadership emphasized the difficulty of the decision, citing the significant impact on employees, customers, and communities. The company plans to continue operating the remaining stores while the bankruptcy process unfolds. Court documents reveal that the closures are part of a broader effort to stabilize the company’s financial position, which has been strained by challenging retail conditions and significant debt.
The retailer, founded in 1943, previously went private in 2011 and returned to the public market before filing for bankruptcy again in 2024. Despite these challenges, Joann remains committed to its mission, though the future of its remaining stores remains uncertain as the company navigates its financial restructuring.
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