Craft and fabric retail giant JOANN has announced it will close all 850 nationwide stores, including 15 locations in Oregon, due to financial struggles. The company filed for bankruptcy earlier this month and cited supply chain disruption as the reason for its decision.
The sale of JOANN’s assets was recently completed, with a new ownership group led by GA Group and the lender team winning the auction. As part of the deal, the new owners plan to roll out a multimillion-dollar retention plan for the company’s approximately 19,000 employees, including organizing job fairs and granting time off for interviews.
A total of 29 JOANN locations in Oregon will close, with most remaining open until the end of May. The closure is expected to be formally approved during a hearing on Wednesday in U.S. Bankruptcy Court for the District of Delaware.
Source: https://eu.statesmanjournal.com/story/news/2025/02/25/joann-craft-fabric-stores-oregon-bankruptcy/80115883007