Joann, a fabric and crafts retailer, plans to close around 500 stores across the US, which is more than half of its current nationwide footprint. The company filed for bankruptcy last month for the second time in a year due to severe and unexpected inventory issues.
Dozens of the closing locations are in Southern California, including areas such as Long Beach, Hemet, La Verne, Santa Clarita, Fullerton, and many more. According to Joann’s restructuring website, the initial list of locations being closed spans across 49 states, including Arizona, California, Colorado, Florida, Georgia, Illinois, Michigan, New York, Pennsylvania, Texas, and others.
The company currently operates around 800 stores across the US, and the closure is a significant move for the retailer. The exact reasons for the closure are attributed to inventory issues, which have led to financial difficulties.
Source: https://abc7.com/post/list-joann-fabric-stores-closing-southern-california-amid-bankruptcy/15902912