Joann Fabrics Announces Closure of Over 500 Stores Amid Financial Restructuring
Joann Fabrics is set to close more than 500 of its 850 stores across 49 states as part of its financial restructuring efforts, following a second Chapter 11 bankruptcy filing. The closures will significantly impact several states, with California, Florida, and Michigan among the most affected. The company aims to 'right-size its store footprint' and continues to support its employees and customers during this transition.