Joann Fabrics Is Officially Closing All Remaining U.S. Stores After 82 Years

Joann Fabrics has announced it will close all of its stores.

The craft retailer was launched 82 years ago in 1943 by German immigrants, who opened its first store in Ohio. The retailer later became a publicly held corporation traded on the American Stock Exchange in 1963. Today, the company has 800 stores across the U.S.

In January, Joann Inc. filed for Chapter 11 bankruptcy for the second time in less than a year. This filing was intended to allow the company to reorganize while benefiting from protections giving it time to restructure, according to a statement released by Joann. 

It had previously announced the closure of approximately 500 of its 800 locations. However, after it was auctioned off to a new ownership group, it was confirmed that all locations will close, according to USA TODAY.

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“Time is of the essence,” lawyers for Joann said. “The Debtors face significant liquidity constraints which are best addressed through a swift but robust marketing and sale process.”  

The company claims that “the last several years have presented significant and lasting challenges in the retail environment” that have resulted in their difficult financial situation.

For now, Joann’s said in a statement, their stores remain open to shoppers while the sale process continues. Both the website and mobile app remain accessible to shoppers for the time being.

Auction results are expected to be approved Wednesday, Feb. 26 at a hearing in the U.S. Bankruptcy Court for the District of Delaware, according to USA TODAY. 

Joann’s is just the latest major U.S. retail chain to call it quits.

Kmart announced it would close its last stores in the continental U.S. in October 2024. Big Lots filed for bankruptcy in September 2024. And Sears, which filed for bankruptcy in 2018, only has a handful of stores that remain open in the country as new closures are being consistently reported.