News Summary
Joann, the beloved fabrics and crafts retailer, announces plans to close over 500 stores as part of its Chapter 11 bankruptcy process. This significant move impacts the crafting community, especially in states like California. The closures, resulting from shifting consumer habits and inventory issues, will start in February 2025, alongside expected going-out-of-business sales. Operating in 49 states with about 19,000 employees, Joann’s restructuring aims to adapt to the changing retail landscape influenced by online shopping and economic challenges.
Joann Faces Big Changes: Nationwide Store Closures Loom
In a surprise announcement that has both shoppers and employees feeling a bit unsettled, Joann, the popular fabrics and crafts retailer, is set to close more than half of its 800 stores across the country. This move comes as part of the company’s ongoing Chapter 11 bankruptcy process, marking a significant shift for a beloved brand that many have turned to for crafting supplies over the years.
What’s Happening?
So, here’s the scoop: Joann is planning to shut down approximately 500 stores throughout the United States as it seeks to “right-size” its footprint for a better future. This decision wasn’t made lightly; it resonates deeply with the team members, customers, and the communities where these stores thrive. It’s certainly a tough pill to swallow for fans of sewing, knitting, and all things crafty.
A Quick Trip Down Memory Lane
Joann has been a staple in the crafting community since its founding back in 1943 in Cleveland, Ohio. The company grew from a small store to a nationwide chain that has brought fabric and creativity to homes across America. However, times have changed, and recently, the retailer has been feeling the pinch as inflation and shifting consumer habits lead to a decline in discretionary shopping. With many shoppers tightening their belts, Joann isn’t the only one feeling the heat — other major retailers like Kohl’s and Macy’s are also reassessing their store counts.
The Reasons Behind the Closures
The specific circumstances driving this major restructuring include issues with inventory that Joann described as “acute and unexpected.” Back in March 2024, the store initially filed for Chapter 11 but emerged only weeks later, keeping all locations open. Unfortunately, the second filing in January 2025 has led to this more drastic strategy involving store closures.
Where Will the Closures Hit Hardest?
As it stands, the closures are expected to affect stores in all 50 states, with the most significant impact seen in California, where 61 stores are on the chopping block. However, states like Florida, Indiana, Michigan, New York, Pennsylvania, and Washington will also see their share of impacted locations. As part of the process, Joann is seeking court authority to move forward with the closures, which hints at an entire wave of going-out-of-business sales set to begin on February 15, 2025.
The Bigger Picture
The retail landscape is rapidly changing. With more than 15,000 stores predicted to close nationwide in 2025 alone — doubling the figures from the previous year, according to Coresight Research — Joann is just one piece of a much larger puzzle. The shift towards online shopping combined with changing economic conditions are reshaping how people buy, making it exceedingly challenging for brick-and-mortar stores to keep their doors open.
What Lies Ahead for Joann?
Currently, Joann operates in 49 states and employs around 19,000 individuals. As they navigate this tricky path, it remains to be seen how the company will adjust its business model and perhaps adapt to the new retail reality. One thing’s for sure: the craft community will be watching closely to see how Joann moves forward from this tumultuous time and continues to inspire creativity across America.
Deeper Dive: News & Info About This Topic
- NBC New York
- Wikipedia: Joann
- Democrat and Chronicle
- Google Search: Joann stores closures
- CNN
- Encyclopedia Britannica: Joann Fabrics
- USA Today
- Google News: Joann closures
- WGRZ
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