Joann Fabrics Closing All Stores? Find Out What’s Happening

Big news in the crafting world. Is Joann Fabrics, a store many of us grew up with, really closing down for good?

The rumors are swirling. Let’s break down what’s happening.

The Story So Far

Joann, a name synonymous with fabrics and crafts for 80 years, is facing some serious challenges.

Here’s the deal:

• They filed for bankruptcy back in March.
• We’re talking about a lot of debt – somewhere between $1 billion and $10 billion.
• The plan was to close some stores. Keep others open.
• But finding a buyer? That didn’t work out.

What About All the Stores?

This is the part that’s got everyone talking. It looks like all 800 Joann stores might be shutting down.

A financial services firm, GA Group, won an auction for Joann’s assets. The word is they’re planning to close all the stores.

A statement from Joann said they tried everything to avoid this outcome.

Going-Out-of-Business Sales Are Happening Now

If you’re a Joann shopper, listen up! Sales have already started. Both in stores and online.

But when will the stores actually close? That’s still unclear. The company says they’ll announce closure dates “as soon as possible. ” They expect the final sales to take “a number of weeks. ”

Crafters Are Heartbroken

The reaction online has been strong. People are sharing their sadness on social media.

One X user wrote that Joann helped them become a designer. Another called it “a dark day for crafters. ”

It’s a tough blow for the crafting community.

Not Everyone Is Surprised

One sewist, Julie Muniz, had a different perspective. She wrote that shopping at Joann was “more of a necessary evil than an inspiring experience. ”

Her point? Maybe the company didn’t focus enough on customer loyalty.

End of an Era?

Joann started way back in 1943 as the Cleveland Fabric Shop. It became Jo-Ann Fabrics in the 60s. Then just Joann in 2018.

It’s sad to see such a long-standing store struggle.

Joann isn’t alone. We’ve seen other stores close their doors recently, too. Kmart. Sears.

What’s next for the crafting community? We’ll be watching.