Joann to Close All Stores and Shut Down Business

Joann to Close All Stores and Shut Down Business

Joann, the over 80-year-old fabric and crafts retailer, has announced it is closing all of its stores nationwide and going out of business after filing for Chapter 11 bankruptcy protection for the second time.

Facing declining sales, Joann previously stated earlier this month that it would close 500 of its locations while keeping around 300 stores open. However, after failing to secure a buyer willing to keep the stores operational, the company confirmed that all Joann stores will shut down.

A spokesperson for Joann commented, "We made every possible effort to pursue a more favorable outcome that would allow the company to continue operating."

The company had filed for Chapter 11 bankruptcy protection in March 2024 and briefly emerged from court oversight before filing again in January.

Joann's assets have been acquired by financial services firm GA Group and the company's lenders. Going-out-of-business sales will begin immediately at all remaining locations, with similar sales available online. Store closure dates will be shared on Joann's website and app, as indicated in a FAQ on the company’s site.

Gift cards will remain valid until February 28, 2025. Many products, including fabrics, yarn, sewing supplies, machines, and home décor, are already discounted on Joann’s website.

"We deeply appreciate the unwavering support of our dedicated team members, customers, and communities across the nation for over 80 years," the company said.

Like many traditional retailers with a large physical presence, Joann has struggled to compete with online shopping.

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