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Crafters and sewers are not going to like this news: Joann is going out of business and closing all remaining locations.
The news comes after the arts and crafts store filed for bankruptcy a second time just last month, and earlier this month announced that it would be closing roughly 500 stores while keeping around 300 open. It seems plans have changed.
Here’s what we know so far and what customers can expect to see in terms of going-out-of-business sales.
On February 12, Joann shared that it would be closing 500 stores, according to a statement from the chain given to CNN. Of the chain's 800 stores across the U.S., over half its locations were set close, leaving a lot of people scrambling for craft and sewing supplies.
“This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers and all of the communities we serve,” said a spokesperson to CNN at the time.
Then, on February 24, the chain announced that it will instead close all of its locations and go out of business, according to CBS News.
Joann is in serious financial trouble. The chain filed for bankruptcy the first time in March 2024, but was able to emerge a few weeks later without closing any stores. About a month ago, however, the chain filed for bankruptcy again, citing sluggish sales and inventory issues for its major money woes.
However, after failing to find a buyer to take over the remaining 300 stores, the company announced that it would be closing all of its locations.
Yes. The financial services company GA Group and Joann's lenders, which have acquired the company's assets, will begin going-out-of-business sales at all remaining locations immediately. Sale prices will also be available on the Joann website and mobile app. Discounts on yarn, fabrics, decor, equipment, including sewing machines, and more are already available.
Probably a good idea to jump on those sales sooner than later.
While exact dates haven't yet been announced, according to an FAQ from the company, its expected to take a number of weeks to complete final sales. In the meantime, all remaining Joann stores, the company website, and its mobile app will remain open and operating. The company says, "Any dates for store closures or changes to the website and app will be communicated as soon as possible."
All Joann stores will continue accepting gift cards until February 28. So, if you have one, be sure to use it soon.
A statement from the company on its restructuring website reads, "We have been proud to serve as a destination for creativity for more than 80 years and thank our dedicated Team Members, customers and communities across the nation for their decades of support."
The news is surely going to leave a Joann-size hole in the heart of the crafting world.
