Joann Fabric and Craft Stores, a prominent retailer in the fabric and craft industry, has announced that it will close all of its stores across the United States and cease operations. This decision comes after the company filed for Chapter 11 bankruptcy protection on February 24, 2025. The retailer, known for its wide selection of crafting supplies and fabrics, has been struggling with revenue declines and the rising costs associated with operations. As part of the bankruptcy process, Joann will liquidate its assets, which includes the sale of store inventory and equipment. According to a spokesperson, ‘This was a difficult decision, but it ultimately became necessary to protect our employees and stakeholders.’ Joann’s closures will impact thousands of employees and shoppers who have depended on the stores for their crafting needs. The bankruptcy filing reflects a broader trend in the retail industry, where traditional brick-and-mortar stores face intense competition from online retailers and shifting consumer habits. Joann’s elimination from the market is set to add to the challenges faced by craft enthusiasts who may find it harder to source their materials moving forward.
Joann Fabric and Craft Stores to Close All Locations Amid Bankruptcy Filing
