Overview

• Joann Fabrics filed for Chapter 11 bankruptcy in January 2025, initiating going-out-of-business sales across its locations.
• GA Group and Joann's term lenders acquired the company's assets in a February 2025 auction and announced plans for a full liquidation.
• On April 28, 2025, 112 stores closed, completing the final phase of 255 store closures scheduled for April.
• Over 500 remaining Joann stores are expected to close by the end of May 2025, as part of the retailer's liquidation plan.
• Joann's dissolution highlights broader retail challenges, including declining foot traffic, competition from e-commerce, and economic pressures.