Retail seller of craft and fabric Joann, who has been in business for the last 80 years, announced it is Closing all its 800 stores in 49 countries and leaving business after a period of financial turmoil and low sales.
The company has 19,000 employees15,600 of which are part -time.
Joann presented for bankruptcy in March 2024, going from a company publicly traded to a private while reporting between $ 1 billion and $ 10 billion in debt. The company submitted bankruptcy again earlier this year, then stated that it would close 500 of its locations and keep about 300 open while trying, and failedto find a buyer to keep it in business.
The assets aucted on Friday. According to announcementThe Financial Services Firm Ga Woman was elected as the winning bidder. As part of the deal, Ga Group will close the company's operations, choosing to close the doors of all 800 Joann stores.
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“Leadership Joann, our board, advisers and legal partners made every possible effort to attend a more favorable result that would keep the company in business,” the statement said. “We are committed to working constructively with the winning bidder to ensure a regular smell of operations that minimize the impact on all stakeholders.”
Unartical declared This business sale would start immediately in all countries and online, with the time limit for still unclear store closures. According to the company CustomerStore closing dates will be discovered “as soon as possible” and the company expects to take “a few weeks” to complete its final sales.
A Joann store in Miami, Florida. Photo from Joe Raedle/Getty Images
Crafts and stylists took on X to express their sadness that Joann was closing.
“Joann is the reason I have been able to have a small part of my life be that of a designer/manufacturer,” a user of XX write. “It was the only clothing store accessible to millions of people. I'm guts.”
Another User X write that it was “a dark day for craftsmen” while another declared that “the world is feeling increasingly free of inspiration and community.”
Sewist Julie Muniz introduced another action, Writing at Linkedin This acquisition in Joann was “more of an evil needed than an inspiring experience” and that “relying heavily on a warm market and not so much that the loyalty and experience of the client does not do well for a lasting heritage.”
Joann is the reason I've been able to have a small part of my life to be that of a designer/manufacturer. It was the only clothing store for millions of people. I'm guts. https://t.co/fdjzhwd4bk
– Kathryn hresler (she/her, ace, spoonie) ?? (@Kathrynhenzler) February 24, 2025
Okay, but Joann Fabrics finally the bullet bite is super sad news. A dark day for artisans who are in the middle of a project and be able to run in the store for a quick item.?
– Mal (@copperteble) February 24, 2025
I'm very sad Joann's fabric is closing. I hate this retail online where you can't see and touch fabrics to be inspired to create, and you can't meet strangers who share your interests in stores. The world is feeling increasingly free of inspiration and community
– ✨PAGE✨ (@bejeweredpaiige) 25 February 2025
Joann was firm In 1943 as the Cleveland fabric store. Began to call himself non-Ann Fabrics in the 1960s, then eventually Unartical In March 2018.
Joann is not the only store that has recently closed its doors. Kmart closed its last full -size American store In October while Sears Close its latest location in New York In January, bringing his total number of stores to the US in only one dozen.
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