Joann Inc. Announces Nationwide Store Closures Following Bankruptcy
Fabric and craft retailer Joann Inc. is officially shutting down all of its stores nationwide after a turbulent bankruptcy process and sale. The company, which filed for Chapter 11 bankruptcy protection for the second time in less than a year, initially aimed to restructure its debt while keeping stores open. However, after failing to find a buyer willing to continue operations, Joann announced the closure of all remaining locations.
The retailer’s assets were acquired by GA Group, a financial services company, and its lenders during an auction on February 21. The new owners will oversee the liquidation of Joann’s operations, with going-out-of-business sales beginning immediately at all stores and online. Customers can expect substantial discounts on remaining inventory, including fabrics, yarns, sewing supplies, and home decor. Joann’s website and mobile app will remain operational until the company ceases all operations entirely.
Joann, a staple in the crafting community for over 80 years, has faced significant challenges in recent years, including weak sales, rising competition from online retailers, and shifting consumer habits. The company’s decline marks the end of an era for crafters, quilters, and sewing enthusiasts who relied on Joann not only for supplies but also for classes, events, and a sense of community.
A final-sale hearing is scheduled for February 26 in the United States Bankruptcy Court for the District of Delaware to formally approve the asset sale. Customer gift cards will remain valid through February 28. The phased closure of stores aims to minimize disruption to employees, vendors, and customers. Joann expressed gratitude to its team members and customers for their support over the decades.
Joann fabrics is going out of business and closing all stores after a turbulent bankruptcy process and sale
Bankrupt retailer Joann fabrics has been bought by GA Group, an asset disposition company, which will close all locations and hold GOB sales.
www.fastcompany.com
Joann is closing all of its remaining stores and going out of business
Fabric and crafts retailer Joann is closing all of its remaining stores after failing to find a buyer that would keep them open.
www.cbsnews.com
Crafts retailer Joann closing down all U.S. stores, one month after filing Chapter 11 bankruptcy
All Joann Fabrics and Crafts locations across the U.S. will close down over the next several weeks, according to Joann Inc., just one month after fili
www.foxbusiness.com
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.
www.nbcnews.com
All of Joann's stores now set to close after new ownership group wins bid
Joann is now set to close all of its store locations after previously announcing the closure of approximately 500.
www.usatoday.com
Joann stores closing: All fabric and crafts stores to liquidate in a number of weeks
Bankrupt arts and crafts retailer Joann plans to close all of its stores after its restructuring plans faltered.
www.axios.com
Joann, bankrupt fabrics retailer, is closing all Colorado stores
Fabric and crafting store Joann is set to shut down and conduct going-out-of-business sales at its 800 locations.
www.9news.com
Joann Fabrics decides to close all stores. What we know about when they close
Joann Fabrics is going out of business and will close all stores including all remaining New Jersey locations.
www.app.com
Joann to be sold, all stores going out of business
Pending court approval, GA Group and the company’s lenders are winding down the retailer’s operations.
www.retaildive.com