Joann Shutting Down All 800 Stores as Fabric Retailer Moves to Liquidation

Joann, the popular fabric and crafts retailer, is going out of business and closing all 800 of its retail locations, the company announced over the weekend. The decision comes after Joann filed for bankruptcy for the second time in a year and previously planned to shutter a majority of its stores.

Joann’s Liquidation Plan

• The retailer has reached an agreement to sell its assets to lenders and liquidation firm GA Group.
• Remaining Joann stores will begin liquidation sales once the deal receives court approval.
• The bankruptcy marks the end of an era for one of the nation’s largest craft and fabric chains, which has struggled with declining sales and rising competition.

What’s Next for Joann Shoppers?

With store closures imminent, customers can expect major clearance sales as Joann liquidates its inventory. As another retail giant disappears, Joann’s shutdown highlights the ongoing challenges facing brick-and-mortar retailers in the digital age.