Update: ALL Joann Fabric and Craft Stores set to close nationwide
Joann Fabric and Craft Stores set to close nationwide
The following statement is taken from their Joann website concerning the change from closing 500 of its 831 stores to closing all of its 831 stores nationwide.
After a thorough sale process and auction, GA Group, along with the Prepetition Term Loan Agent, has been chosen as the winning bidder to acquire most of JOANN’s assets. Under this agreement, and pending Bankruptcy Court approval, the winning bidders plan to wind down the company’s operations and start going-out-of-business sales at all store locations.
JOANN’s leadership, along with their Board, advisors, and legal partners, explored every possible option to find a more favorable outcome that would allow the company to continue operating. They are committed to working closely with the winning bidder to ensure an orderly wind-down that minimizes the impact on all our stakeholders.
They deeply appreciate their dedicated Team Members, our loyal customers, and the communities they’ve served across the nation for their incredible support over the past 80+ years. More Info
prior article….
On Wednesday, February 12, 2025, JOANN submitted a motion requesting court approval to begin the closure of approximately 500 stores nationwide out of its 831 stores. This will affect its employees as well as crafters and artists of many mediums. Turning Joann into a private company from a public company in April of 2024 did not stop the closures.
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