Joann, a beloved destination for crafters, quilters, and makers for over 80 years, is closing its doors for good. This announcement marks the end of an era for a retailer that has been a cornerstone for creative communities across generations. Known for its wide selection of fabrics, yarns, and crafting supplies, Joann has been a trusted resource for countless projects, from handmade quilts to knitted scarves. For decades, its stores have been bustling with customers seeking inspiration, materials, and guidance for their next project. However, after facing significant financial challenges, the Hudson, Ohio-based company has been forced to cease operations and shutter all its locations.
The journey to this point has been marked by struggle and resilience. Joann first filed for Chapter 11 bankruptcy protection in March 2024, a move that allowed it to restructure and emerge as a private company. At the time, there was hope that this step would position the retailer for a stronger future. However, the challenges persisted, and in January of this year, Joann found itself filing for bankruptcy once again. Citing sluggish consumer demand and inventory shortages, the company acknowledged the difficulties it faced in maintaining its operations. Despite initial assurances that all stores would remain open, the situation continued to deteriorate, leading to the announcement that over 500 locations—or more than half of its stores—would close.
In a recent update, Joann revealed that financial services company GA Group, in partnership with the company’s term lenders, had emerged as the winning bidder in a bankruptcy auction. As part of the agreement, GA Group will acquire “substantially all of Joann’s assets” and oversee the wind-down of operations. This includes conducting going-out-of-business sales at all remaining stores. The company has emphasized that its website, mobile app, and physical locations will continue to operate during this period, allowing customers to shop while inventory is liquidated. Joann has also pledged to provide updates on store closures and website changes as soon as possible, noting that the process of completing final sales will take several weeks.
For many, the news of Joann’s closure is deeply saddening. The retailer has long been more than just a place to buy supplies; it has been a community hub where crafters gathered, shared ideas, and found inspiration. Joann’s knowledgeable staff and wide selection of products made it a haven for both seasoned crafters and beginners alike. The loss of this resource will undoubtedly leave a void in the lives of many, particularly in smaller communities where Joann may have been the only local option for crafting supplies. While the company’s leadership has expressed a commitment to minimizing the impact of the closure, the reality is that this decision will affect not only customers but also employees, vendors, and the broader crafting industry.
Joann’s leadership has been open about the efforts made to avoid this outcome. In a statement on its website, the company acknowledged the hard work and dedication of its team, board, and partners in exploring alternative solutions. “We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders,” Joann said. This commitment reflects the company’s desire to handle the situation with dignity and care, even as it navigates the complexities of bankruptcy and closure. While the outcome is ultimately disappointing, the company’s transparency and focus on responsibility are a testament to its values.
Looking ahead, the closure of Joann serves as a reminder of the challenges facing brick-and-mortar retailers in an increasingly competitive and changing retail landscape. While many consumers have turned to online shopping, there is still a deep appreciation for the tactile experience of browsing fabric bolts or selecting yarns in person. Joann’s story is one of resilience and dedication, but it also highlights the difficulties of sustaining a business model that relies heavily on physical locations and in-person customer interactions. As the retail industry continues to evolve, Joann’s legacy will live on in the countless projects, traditions, and memories it helped create over the years. For now, customers are encouraged to take advantage of the going-out-of-business sales and reflect on the role Joann has played in their lives. While the company may be closing its doors, the creativity and community it inspired will endure.
