Fabrics retailer Joann will be closing all of its approximately 800 locations after failing to find a buyer to keep the stores open. The company, which has been in business for over 80 years, announced that it will be starting nationwide going-out-of-business sales as a result of an auction for its assets. Despite efforts to find a more favorable outcome, Joann was unable to avoid closure.
Founded as the Cleveland Fabric Shop by German immigrants during World War II, Joann was once the largest fabrics retailer in the U.S. The company went public in 2010 but was de-listed a year later. It experienced a brief revival during the pandemic crafting boom but ultimately saw a decline in sales by 2023, leading to its second bankruptcy filing in 2024. With 19,000 employees, mostly part-time, Joann will be working with the winning bidder to ensure an orderly wind-down of operations.
In light of the closure, Joann has posted an FAQ on its website with information about the going-out-of-business sales, which are set to start immediately. Despite the disappointment of this outcome, Joann expressed gratitude to its team members, customers, and communities for their support over the years.
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