Beloved craft retailer Joann Fabrics announced that it will be shutting down 500 of its stores nationwide. This news comes hot on the heels of the company’s second bankruptcy filing in January. Although the chain has held a fond place in the hearts of crafters for more than 80 years, it has experienced slow sales leading up to the store closures.
What Caused Joann Fabrics Stores to Shut Down?
Some have speculated that Joann Fabrics was struggling with its customer base due to a lack of staff and because the chain shifted away from strictly fabrics and more towards home decor. The company cited tough financial situations and constrained inventory levels as the main reasons why the brand filed for a second time.
For many, Joann’s second filing didn’t come as a surprise. Customers have been posting pictures of stores that look more like warehouses, filled to the brim with boxes that couldn’t be unloaded due to understaffing. All of these issues have left customers fleeing to other local craft stores to find what they need instead.
Not all hope is yet lost, though. A select number of Joann Fabrics stores will remain open. According to the company, their teams carefully analyzed which stores could stay in business and which weren’t doing well enough to keep their doors open.
What States Will Be Affected the Most?
While 300 Joann Fabric stores are supposed to remain open nationwide, there’s no word yet if the company will keep these stores open for good.
California has the most stores being cut, with a whopping 61 Joann Fabrics slated to shut down. Other states with the most store closures include Florida, Georgia, Illinois, Massachusetts, Michigan, Minnesota, New York, Ohio, Pennsylvania, Texas, Washington, and Wisconsin.
The full list of Joann Fabrics store closures can be found on the company’s restructuring website under “Store Closure List.”
While the company hasn’t yet released the official dates of each store’s closing, court documents from Joann Fabrics confirmed that around 500 stores are slated to close. When your local Joann’s finally says goodbye, you can at least take advantage of store-closing deals on fabrics, supplies, and home decor items.
