Joann Fabrics has announced that its location in Topeka, Kansas, will remain open despite the company’s decision to close around 500 stores nationally as part of its bankruptcy proceedings. This move is aimed at “right-sizing” its store footprint following its filing for bankruptcy on January 15.
The closures will impact three locations in Kansas: one store each in Salina and Lawrence, as well as one of its two stores in Wichita. The selection of stores to close was based on an analysis of their performance and strategic fit for the company moving forward.
Currently, Joann operates approximately 850 stores across 49 states, and customers in Topeka, located at 1133 S.W. Wanamaker Road, Suite 200, will not be affected by the cuts. According to an FAQ on the company’s restructuring website, impacted stores are expected to commence going-out-of-business sales starting February 15. However, other Joann stores and the website continue to operate normally, ensuring that employees receive their pay and benefits during this transition.
This announcement illustrates the challenges faced by retail businesses in today’s economy, but it also reflects Joann’s commitment to adapting and maintaining a presence in select markets, including Topeka. Ultimately, the company’s decision aims to position itself for future stability, reassuring customers that essential services will remain available.