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10h ago

Joann Fabrics to Close All Remaining Stores by May 31 After 80+ Years

The craft retailer, which filed for bankruptcy twice in a year, is in its final liquidation phase, with deep-discount sales ongoing at over 440 locations.

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Joann, a long-standing craft retailer, will close all stores by May 31 following bankruptcy.
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Overview

  • Joann Fabrics, founded in 1943, is permanently shutting down after more than 80 years in business.
  • The company filed for Chapter 11 bankruptcy twice within a year, most recently in January 2025, before being acquired by GA Group and term lenders in February.
  • All remaining 440+ U.S. stores are set to close by May 31, 2025, with online sales already discontinued.
  • Deep-discount going-out-of-business sales, offering 70%–90% off, are ongoing at the remaining locations, including the sale of store fixtures and equipment.
  • Joann’s closure reflects broader challenges in the retail sector, including competition from online platforms and inflationary pressures on discretionary spending.