Joann Fabrics Announces Closure of Over 500 Stores Nationwide
Joann Fabrics, the well-known fabric and craft retailer, has announced plans to close over 500 of its approximately 850 stores across 49 states, excluding Hawaii. The decision comes as part of the company’s efforts to “right-size its store footprint” following its second Chapter 11 bankruptcy filing in less than a year. The closures are expected to impact thousands of employees and customers nationwide.
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 closing, while Florida, Michigan, Ohio, and Pennsylvania will each lose 33 locations. Washington state is set to close over 20 stores, including locations in Seattle, Tacoma, and Everett.
Joann cited higher costs from overseas shipping and declining consumer demand as key factors contributing to its financial struggles. The company, which went private in 2024 after being delisted from the U.S. stock exchange, is currently undergoing a court-supervised sale process to maximize the value of its assets. Going-out-of-business sales are expected to begin soon and could last several months, with gift cards still being accepted for in-store purchases.
The retailer emphasized its commitment to serving its customers and supporting employees throughout the transition. This wave of closures is part of a broader trend affecting middle-tier retailers, as companies like Macy’s and Kohl’s have also announced significant store closures in recent months. No specific timetable has been released for when the Joann stores will begin closing.
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