Joann Fabrics, a leading fabric and craft retailer, has announced the closure of over 500 stores across 49 states as part of its efforts to right-size its store footprint following its second Chapter 11 bankruptcy filing. The closures will significantly impact employees and customers, with states like California and Florida seeing the highest number of store shutdowns.
JCPenney is closing a handful of stores in eight states by mid-2025 due to expiring leases and market changes, unrelated to its recent merger with SPARC Group. The company emphasizes these closures are isolated and part of a broader strategy to focus on serving working families and revamping its offerings.
Joann, the fabric and craft retailer, is closing more than 500 of its approximately 850 stores across 49 states as part of its bankruptcy restructuring. The closures affect states including California, Florida, and Colorado, with significant impacts on employees and communities.
JCPenney is set to close eight stores across eight states by mid-2025, citing expiring leases and market changes. This move is part of the company's ongoing efforts to stabilize operations amidst a challenging retail environment and the rise of e-commerce.