Anne D’Hynenzio, Associated Press
NEW YORK (AP) – Fabric and craft retailer Joann Inc. has been a destination for quilters, knitting and craft projects enthusiasts for 80 years, has gone out of business and has closed all of its stores.
The announcement comes after the Hudson, Ohio-based retailer filed for a second Chapter 11 bankruptcy protection in January. It cited slowing consumer demand and inventory shortages. When it swears, it leaves all the shops open.
But earlier this month, Joan said he plans to close 500 stores, or more than half of his national footprint. The company was selected on Sunday after a recent auction, along with Joan’s term lender as a successful bidder to “acquire virtually all of Joan’s assets” and reduced the company’s operations. said that they would be doing the act. Out-of-business sales at all store locations.
The company said in its Q&A section of its website is dedicated to reorganizing its stores, Joann.com and mobile apps will remain open and operating while selling the business. I did.
The retailer said the dates of store closures or changes to the website will be posted as soon as possible, and it is expected to be “a few weeks to complete the final sale.”
Joan previously looked for Chapter 11 in March 2024, but later appeared as a private company. However, after operational challenges continued to build up, Joanne filed for bankruptcy again in January.
“Joan’s leadership, our board of directors, advisors and legal partners have made every effort to pursue a more favorable outcome that keeps the company in business,” Joan said in a statement posted on the website. I did. “We are committed to working constructively with successful bidders to ensure an orderly operational blowout that minimizes impact on all stakeholders.”
Original issue: February 24, 2025, 4:31pm EST
