The Pittsburgh area has seen disappointment among shoppers following the announcement that Joann, a well-known fabric and crafts retailer with over 80 years in business, is closing all its stores nationwide due to a second bankruptcy filing under Chapter 11. The company’s struggles with declining sales have led to plans for the closure of 500 out of its approximately 800 stores, with the remaining 300 also set to shut down after failing to secure a buyer.
In a statement, a spokesperson from Joann expressed the company’s commitment to finding a solution that would allow them to continue operations, highlighting the efforts made to pursue a favorable outcome amid ongoing challenges. It’s worth noting that this is not the company’s first encounter with bankruptcy; they previously sought Chapter 11 protection in March 2024 but declared bankruptcy once again in January.
The retailer’s assets have been acquired by financial services firm GA Group and Joann’s lenders, who will begin going-out-of-business sales at all remaining stores and on their website. Customers are encouraged to use their gift cards until February 28, while fabric, yarn, sewing supplies, and home decor products are now heavily discounted.
This closure reflects the broader challenges many brick-and-mortar retailers face in an increasingly digital marketplace. Joann’s extensive history and dedicated customer base highlight the impact of these sudden changes on local communities. The company concluded its announcement by expressing gratitude to its team members and customers for their long-standing loyalty.
Despite the disappointment, there is hope that the creativity and craftsmanship that Joann has fostered over the decades may continue through independent retailers and online platforms that can fulfill the needs of craft enthusiasts.