Crafters face another blow as more Joann fabric and craft stores are set to close in the coming weeks. The Ohio-based retailer, which operates around 850 stores in 49 states, filed for Chapter 11 bankruptcy protection in March and secured new financing. According to reports, at least eight locations across Iowa, North Carolina, Maryland, Pennsylvania, New York, and Massachusetts will shut down.
The closures are attributed to “routine store location evaluation and optimization,” according to Joann’s director of corporate communications, Amanda Hayes. The company has also opened new stores in recent months, including locations in Great Falls, Montana, and Maplewood, Minnesota.
Founded in 1943, Joann is a well-known retailer of crafting supplies, including fabric, sewing machines, Cricut machines, yarn, home decor, and more. However, the exact dates for the closures have not been confirmed by the company. Local news outlets reported varying closure dates ranging from January 12 to January 19.
As part of its bankruptcy process, Joann went private in 2011 after being purchased by an equity firm for $1.6 billion. The company has undergone leadership changes, including the departure of CEO Scott Sekella and the appointment of interim CEO Michael Prendergast.
Source: https://eu.usatoday.com/story/money/2025/01/09/joann-closing-stores-locations-reports/77548740007