News Summary
Joann Fabrics, a prominent craft retailer, is set to close all 800 of its stores across the United States following a Chapter 11 bankruptcy auction. Newly acquired by the GA Group, the company had initially planned to close around 500 stores but expanded that to all locations. Liquidation sales are scheduled to begin on February 15, with a heartfelt farewell from the company to its loyal customers and employees. The future of the brand and its headquarters remains uncertain as it winds down operations.
Joann Fabrics Set to Close All Stores Following Bankruptcy Auction
Big news is coming from the crafting world, as Joann Fabrics, a popular name for DIY enthusiasts, is closing all of its more than 800 stores across the United States. Based in Hudson, Ohio, Joann filed for Chapter 11 bankruptcy twice within just one year, with the latest filing hitting the courts in January 2025.
New Ownership and Auction Results
After a recent bankruptcy auction, Joann was sold to a new ownership group led by the GA Group along with Joann’s term lenders. This auction was not just a typical sale; it involved some tough competition that included another bidder, Gordon Brothers Retail Partners. The results of this auction are waiting to be formally approved at a U.S. Bankruptcy Court hearing scheduled for Wednesday. With all stores now on the chopping block, the outcome has surprised both employees and loyal customers.
Initial Closure Plans Expanded
Earlier, Joann had hinted at closing around 500 locations. However, following the auction, those plans have now broadened to include all remaining stores. This means that not even the 33 stores previously set to stay open in Ohio will escape the impending shutdown. Shoppers can expect going-out-of-business sales to kick off across all locations, starting from February 15, and these discounts will extend to all Joann’s stores until the end of May.
What to Expect During the Liquidation Process
For those who love a good craft store deal, brace yourselves! Most Joann locations will remain operational as they conduct hefty liquidation sales. Discounts will be available both in-store and online through Joann’s website and mobile app. But shoppers should note that Joann will not be accepting gift cards during this time, and returns will also be halted at closing locations.
A Heartfelt Farewell
With this tough decision, Joann is expressing deep gratitude towards its employees, customers, and the communities it has served for over 80 incredible years. The recent changes might leave employees with uncertain futures, but the GA Group’s Retail Solutions team has announced plans for a multimillion-dollar retention plan aimed at supporting approximately 19,000 employees. They promise job fairs and a little leeway for time off when it comes to interviews. This commitment shows dedication to easing the transition for those affected.
What Lies Ahead for Joann Fabrics?
The future operations of what was once a staple in crafting supplies are now clouded with uncertainty. Will the Joann brand still be recognizable after this ownership change? Furthermore, the headquarters in Hudson may close following layoffs, potentially leaving many local workers without jobs. The GA Group is working toward an orderly wind-down of operations, hoping to minimize adverse effects on all stakeholders involved.
The End of an Era
The crafting community is feeling the weight of this announcement as they prepare to say farewell to a beloved retailer. For DIY enthusiasts, their favorite crafting haven may soon be just a cherished memory. As Joann employees and loyal customers look ahead, they remain hopeful that there will be new opportunities and ventures in the future.
So whether it’s beading, quilting, or scrapbooking supplies you’re after, make sure to visit your local Joann store soon—as the days for shopping at these locations are numbered!
Deeper Dive: News & Info About This Topic
- Beacon Journal: Joann Fabrics Closing Stores
- Cleveland 19: Joann Fabric Closing All Stores Nationwide
- Canton Repository: Joann Fabrics Closing Stores in Jackson Township
- USA Today: Joann Fabric Store Closings
- Fox 8: Joann Closing All Stores Across the US
- Wikipedia: Joann Stores
- Google Search: Joann Fabrics bankruptcy
- Google Scholar: Joann Fabrics
- Encyclopedia Britannica: Retail
- Google News: Joann Fabrics
