January 2025 – Joann Fabrics, the popular craft retailer, has begun closing a number of its store locations across the United States following its Chapter 11 bankruptcy filing in March 2024. The company confirmed to Retail Dive that six locations will be shuttered, including stores in Holyoke, Massachusetts, and Ithaca, New York.
Joann filed for Chapter 11 bankruptcy in March 2024, transitioning into a privately held company controlled by its creditors. At the time of the filing, the company reported having 815 stores, with 96% of them being profitable. Despite this, the ongoing restructuring efforts have led to store closures as part of its efforts to stabilize and streamline operations.
Currently, Joann operates approximately 850 stores in 49 states, according to the company’s website. The closures are part of the retailer’s strategy to reposition itself after the bankruptcy and focus on long-term sustainability.
The move comes as Joann seeks to address its financial challenges while still maintaining a significant presence in the crafting industry.
