All of Joann’s stores now set to close after new ownership group wins bid
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In a significant development for the arts and crafts retail industry, Joann Inc., a prominent fabric and craft retailer, has announced the closure of all its approximately 800 stores across the United States. This decision follows the company’s recent acquisition by financial services firm GA Group and its term lenders, marking the end of Joann’s 80-year presence in the market.Local News 8+7San Francisco Chronicle+7Axios+7St. Cloud Times+3Akron Beacon Journal+3San Francisco Chronicle+3
Background and Acquisition
Founded in 1943 as the Cleveland Fabric Shop, Joann expanded its footprint nationwide, becoming a go-to destination for craft enthusiasts and fabric shoppers. However, in January 2025, the company filed for Chapter 11 bankruptcy protection for the second time in less than a year, citing declining sales and mounting debt. Initially, Joann planned to close approximately 500 of its 800 stores to restructure its operations. However, after failing to secure a buyer for the remaining locations, the decision was made to liquidate all assets. Axios+1Wikipedia+1The US Sun+2Wikipedia+2Wikipedia+2Wikipedia+1Wikipedia+1
Impact on Employees and Customers
The closure of Joann stores will result in the loss of approximately 19,000 jobs, including 15,600 part-time positions. This development has raised concerns among employees and communities that have long relied on Joann as a staple retailer. AxiosCoStar+2CT Insider+2The US Sun+2
Customers have also expressed frustration, particularly regarding the company’s decision to stop accepting gift cards after February 28, 2025. Many took to social media to voice their dissatisfaction, feeling shortchanged by the sudden policy change. Axios+2New York Post+2St. Cloud Times+2St. Cloud Times
Liquidation Sales and Store Closures
Going-out-of-business sales commenced on February 15, 2025, at all Joann locations. Shoppers have been flocking to stores to take advantage of discounts, leading to long lines and depleted inventories in some areas. For instance, in Milwaukee, customers experienced significant wait times and observed dwindling stock as they sought to purchase crafting supplies before the stores close permanently. The US Sun+6Journal Sentinel+6St. Cloud Times+6
The liquidation process is expected to continue for several months, with all stores anticipated to close by the end of May 2025. During this period, Joann’s online services will remain operational for browsing and product information, but purchases are limited to physical stores. The US SunNew York Post+1San Francisco Chronicle+1
Broader Retail Implications
Joann’s closure is part of a larger trend affecting the retail industry, often referred to as the “retail apocalypse.” Numerous retailers have faced similar challenges, leading to widespread store closures and bankruptcies. Factors contributing to this trend include shifts in consumer behavior, the rise of e-commerce, and financial strains exacerbated by the COVID-19 pandemic. Wikipedia
Conclusion
The impending closure of all Joann stores marks the end of an era for the fabric and craft retail sector. As the company winds down its operations, employees, customers, and communities are left to navigate the impact of losing a long-standing fixture in the crafting world. While liquidation sales offer an opportunity for shoppers to stock up on supplies, the broader implications for the retail landscape and local economies remain significant.
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