By Victoria D
Updated on: February 12, 2025 / 4:40 PM EST / CBS Boston
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Fabric and crafts retailer Joann announced Wednesday it will be closing about 500 stores nationwide, almost a year after filing for bankruptcy.
The Hudson, Ohio-based company, which operates more than 800 stores, declared bankruptcy in March 2024 while reporting between $1 billion and $10 billion in debt. In court documents, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand.
At the time, they planned to keep stores open. But in January, the company began Chapter 11 proceedings to start a sale process.
“After carefully reviewing all available strategic paths to address our ongoing industry, economic and financial challenges, JOANN and its financial stakeholders determined that initiating a court-supervised sale process is the best course of action to maximize the value of the business,” the company said in a statement. “Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for JOANN.”
Joann fabrics store closing list
Joann store closures are happening in almost every state. There are almost 60 locations closing in California, and other states seeing a lot of closures include Florida, Illinois, Massachusetts, Maryland, Michigan, Minnesota, New York, Pennsylvania and Texas.
Click here for the full list of the hundreds of Joann store closures.
Going-out-of-business sales are expected to start on Saturday and could continue for several months, Joann said. Gift cards are still being accepted for in-store purchases, but not online shopping.
“JOANN is committed to providing our customers – the sewists, quilters, crocheters, crafters and other creative enthusiasts we have served for more than 80 years – with great service and assortments and to supporting our thousands of Team Members across the nation throughout this process,” the company said in a statement.
Latest in retail closures
This is the latest in a series of store closures for major retailers. In December, Party City said it would be closing all its stores, just a day after announcing mass layoffs at headquarters. In January, Macy’s said it would be closing 66 underperforming stores nationwide.
No timetable has been released for when Joann stores will start closing.
Victoria DVictoria D. is a digital producer for CBS Boston. Before joining CBS Boston in 2023, Victoria had already worked in journalism in both New York and Boston for more than 10 years.
