Joann Fabrics Announces Closure of Over 500 Stores Amid Financial Restructuring
Joann Fabrics, the well-known fabric and craft retailer, has announced plans to close over 500 of its approximately 850 stores across 49 states, as part of its ongoing financial restructuring. The decision comes after the company filed for Chapter 11 bankruptcy for the second time in less than a year, citing challenges such as rising costs and declining consumer demand.
The closures will impact stores in nearly every state, with California, Florida, Michigan, Ohio, Pennsylvania, Illinois, New York, Washington, and Indiana among the most heavily affected. According to court documents, 61 stores in California, 36 in Florida, and 33 in Michigan, Ohio, and Pennsylvania are slated to close. In Washington state, over 20 locations, including stores in Seattle, Tacoma, and Everett, will shut down.
Joann stated that the decision to “right-size its store footprint” was made after a careful analysis of store performance and strategic fit. The company emphasized its commitment to serving customers and supporting employees during the transition. Going-out-of-business sales are expected to begin soon, with gift cards still accepted for in-store purchases.
This move reflects broader struggles in the retail sector, as Joann joins other major retailers in downsizing operations to adapt to changing market conditions. No specific timetable has been released for the closures, but the process is expected to unfold over the coming months.
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Joann, the embattled fabric and craft store, announced plans to close over 500 locations. Court documents show which ones - see the full list here.
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The stores are being shuttered as part of “routine store location evaluation and optimization,” according to a company spokesperson.
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