(Source : AP) Joann Inc., the iconic fabric and crafts retailer that has been a go-to destination for quilters, knitters, and DIY enthusiasts for over 80 years, is closing all of its stores after failing to secure a path forward following its second bankruptcy filing in less than a year.
The Hudson, Ohio-based company announced Sunday that it will wind down operations and begin going-out-of-business sales at all of its locations. The decision comes after financial services firm GA Group, along with Joann’s term lenders, were selected as the winning bidders to acquire “substantially all of Joann’s assets” during a recent auction.
A Storied History Meets a Challenging Present
Joann, which first filed for Chapter 11 bankruptcy protection in March 2024 and later reemerged as a private company, faced ongoing operational challenges, including sluggish consumer demand and inventory shortages. In January, the retailer filed for bankruptcy again, initially vowing to keep all of its stores open. However, earlier this month, Joann revealed plans to close more than half of its 850 stores nationwide
The company’s latest announcement confirms that all remaining stores, as well as its website and mobile app, will remain operational temporarily to facilitate going-out-of-business sales. Specific closure dates and changes to online operations will be announced in the coming weeks, with the process expected to take “a number of weeks to complete.”
A Message to Customers and Stakeholders
In a statement posted on its website, Joann expressed its commitment to minimizing the impact of the closures on its stakeholders. “Joann leadership, our board, advisors, and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business,” the statement read. “We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations.”
The retailer also addressed customer concerns in a dedicated Q&A section on its website, reassuring shoppers that stores and online platforms will remain open during the liquidation process.
For generations, Joann has been a cornerstone of the crafting community, offering fabrics, sewing supplies, and DIY project materials to hobbyists and professionals alike. Its closure marks the end of an era for a brand that has inspired creativity and brought communities together through crafting.
As the company prepares to close its doors, customers are encouraged to take advantage of the upcoming sales while supplies last.
