### Joann Fabrics to Close All Stores After 80 Years in Business Joann Fabrics, a well-known name in the fabric and craft retail industry, is set to close all of its more than 800 stores across the United States. This decision follows the company's recent bankruptcy filing in January 2025 and the subsequent auction of its assets, which resulted in new ownership that plans to liquidate the business. The retailer, which has been a staple for crafting enthusiasts for over 80 years, failed to find a buyer willing to keep the stores operational, leading to this significant closure announcement. ### Breakdown of the Closure Announcement 1. **Bankruptcy Filing and Auction Results** - Joann filed for Chapter 11 bankruptcy on January 15, 2025, due to mounting debts and financial struggles exacerbated by the pandemic's aftermath [https://www.salon.com/2025/02/27/joann-closing-stores]. - The auction results were finalized on February 23, 2025, with GA Group and Prepetition Term Loan Agent acquiring the company's assets, leading to the decision to close all stores [https://communityimpact.com/dallas-fort-worth/mckinney/business/2025/02/26/craft-supplies-retailer-joann-files-for-bankruptcy-plans-mckinney-store-closing]. 2. **Impact on Employees and Locations** - The closure will affect approximately 19,000 employees nationwide, leaving them without jobs as the company winds down operations [https://www.pennlive.com/business/2025/02/national-retail-chain-is-going-out-of-business-leaving-19000-employees-out-of-work.html]. - All store locations, including those in New Jersey, Georgia, and other states, will begin liquidation sales as part of the going-out-of-business process [https://www.nj.com/business/2025/02/joann-is-closing-all-800-stores-after-80-years-in-business-see-all-the-nj-locations-to-shop-before-theyre-gone.html]. 3. **Historical Context and Customer Sentiment** - Joann has been a significant player in the crafting community, known for its wide range of fabrics and craft supplies. The company experienced a surge in sales during the early pandemic but could not sustain profitability [https://news.wjct.org/national-news/2025-02-25/fabric-giant-joann-is-going-out-of-business-and-closing-all-of-its-800-stores]. - Customers have expressed disappointment over the closure, highlighting the store's role in their crafting journeys and community engagement [https://www.dailymail.co.uk/yourmoney/article-14433169/crafts-chain-stores-america-bankruptcy-debt.html]. ### Summary of Findings **Joann Fabrics is officially closing all its stores, marking the end of an era for a beloved crafting retailer.** 1. **Bankruptcy and Auction**: The company filed for bankruptcy in January 2025 and was unable to find a buyer to keep the stores open, leading to the liquidation of all locations [https://www.usatoday.com/story/money/2025/02/27/joann-fabrics-stores-closing-sale/80498488007]. 2. **Employee Impact**: Approximately 19,000 employees will be affected by the closures, which will commence with going-out-of-business sales [https://www.pennlive.com/business/2025/02/national-retail-chain-is-going-out-of-business-leaving-19000-employees-out-of-work.html]. 3. **Customer Reaction**: The closure has sparked disappointment among loyal customers who have relied on Joann for their crafting needs [https://www.dailymail.co.uk/yourmoney/article-14433169/crafts-chain-stores-america-bankruptcy-debt.html]. In conclusion, the closure of Joann Fabrics signifies a major shift in the retail landscape for craft supplies, reflecting broader challenges faced by brick-and-mortar stores in a changing economic environment.