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Fabric and craft retailer Joann to go out of business and close all of its stores
Fabric and craft retailer Joann Inc. is closing all its stores after filing for Chapter 11 bankruptcy twice in a year. Following an auction, financial services company GA Group, along with Joann’s term lenders, won the bid to acquire most of Joann’s assets. The company will wind down its operations and conduct going-out-of-business sales at all store locations. The stores, Joann.com, and the mobile app will remain open during this process, with closure dates and changes to be announced soon. Joann previously emerged from bankruptcy in March 2024 but faced ongoing operational challenges, leading to this decision.
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