All of Joann’s stores now set to close after new ownership group wins bid

In a significant development for the arts and crafts retail sector, Joann Inc., a longstanding purveyor of fabrics and craft supplies, has announced the closure of all its 800 stores across the United States. This decision follows the company’s second Chapter 11 bankruptcy filing within a year and the subsequent acquisition of its assets by the GA Group, a private equity firm specializing in retail liquidations.​Big Rapids Pioneer+7CT Insider+7Wikipedia+7San Francisco Chronicle+6People.com+6CT Insider+6

A Storied Legacy Comes to an End

Founded in 1943 as the Cleveland Fabric Shop in Ohio, Joann has been a cornerstone for craft enthusiasts for over eight decades. The retailer expanded significantly over the years, offering a vast array of fabrics, sewing materials, and craft supplies to communities nationwide. The impending closures mark the end of an era for a brand that has been integral to the creative pursuits of countless individuals.​Axios+1Wikipedia+1

Financial Struggles and Bankruptcy Filings

Joann’s financial woes have been mounting over recent years. The company first filed for Chapter 11 bankruptcy protection in March 2024, aiming to restructure and reduce its debt burden. Despite these efforts, Joann filed for bankruptcy again in January 2025, citing continued declining sales and an untenable financial position. ​Wikipedia+2Wikipedia+2CT Insider+2

Acquisition by GA Group and Store Closures

In February 2025, GA Group, in partnership with Joann’s term lenders, emerged as the winning bidder in a bankruptcy auction, acquiring substantially all of Joann’s assets. Initially, there were plans to close approximately 500 of the 800 stores. However, after failing to find a buyer for the remaining locations, the decision was made to liquidate all stores. ​YouTube+6San Francisco Chronicle+6St. Cloud Times+6CT Insider+4Big Rapids Pioneer+4Wikipedia+4Wikipedia+1Wikipedia+1

Impact on Employees and Communities

The closure of all Joann stores will result in the loss of approximately 19,000 jobs, including 15,600 part-time positions. This development not only affects employees but also the communities that have relied on Joann as a primary source for craft and sewing supplies. The absence of Joann stores will leave a significant void for hobbyists, educators, and small business owners who depended on the retailer for materials and inspiration.​AxiosCT Insider+1St. Cloud Times+1

Customer Reactions and Gift Card Policies

Customers have expressed confusion and frustration over Joann’s handling of gift cards amid the closures. The company announced that gift cards would only be accepted through February 28, leaving many patrons feeling shortchanged. This decision has sparked outrage among loyal customers who feel that the retailer’s actions are unjust, given that they had previously paid for these gift cards in good faith. ​The US Sun+2New York Post+2St. Cloud Times+2Axios+1New York Post+1

Going-Out-of-Business Sales and Final Operations

Joann has commenced going-out-of-business sales at all locations, offering discounts on remaining inventory. These sales are expected to continue until the end of May or until all merchandise is sold. During this period, Joann’s website and mobile app will remain operational for browsing and product information; however, purchases are limited to physical stores. Additionally, the company has suspended personalized discounts and returns during the liquidation process. ​Wikipedia+8Big Rapids Pioneer+8San Francisco Chronicle+8New York Post+1The US Sun+1San Francisco Chronicle+1Axios+1

The Broader Retail Landscape

Joann’s closure is part of a larger trend affecting brick-and-mortar retailers, often referred to as the “retail apocalypse.” Factors contributing to this phenomenon include increased competition from online retailers, shifting consumer preferences, and financial mismanagement. Joann joins a growing list of retailers that have been forced to close their doors in recent years due to these challenges. ​

Looking Ahead

As Joann prepares to close its doors permanently, customers are encouraged to take advantage of the liquidation sales and redeem any remaining gift cards before the specified deadline. The arts and crafts community will undoubtedly feel the impact of this loss, and it remains to be seen how the market will adapt to fill the void left by Joann’s departure.​Axios+3San Francisco Chronicle+3St. Cloud Times+3

For those seeking alternatives, exploring local independent craft stores, online retailers, and other national chains may provide suitable options to meet their crafting needs.

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