Overview

• Joann Inc., a craft retailer founded in 1943, is permanently closing all remaining 440+ stores by May 31, 2025.
• This decision follows the company's second Chapter 11 bankruptcy filing within a year and the February 2025 auction of its assets to GA Group and term lenders.
• The retailer has been conducting going-out-of-business sales with discounts ranging from 70% to 90%, including the sale of store fixtures and equipment.
• Joann had already shuttered 255 locations in April, with the remaining closures marking the end of its operations across the United States.
• The company's collapse reflects broader challenges for traditional brick-and-mortar retailers facing shifts in consumer behavior and competition from online platforms.