One year ago, Congress defunded public media. Now that we're 100% community funded, please become a sustaining member or increase your existing membership today.
The fabric giant Joann will close all of its stores by the end of May
A customer shops in a Joann store in Miami on Feb. 13. The retailer announced this week that it is going out of business and closing its roughly 800 stores across the U.S.
(
Joe Raedle
/
Getty Images
)
Joann, the major national retailer of fabric and craft supplies, is going out of business and closing all of its roughly 800 stores in 49 states across the U.S.
The more than 80-year-old chain formerly known as Jo-Ann Fabrics had been struggling financially for several years following a DIY-driven uptick in sales during the early days of the pandemic.
Joann has lost market share to online retailers and brick-and-mortar competitors such as Hobby Lobby and Michaels, retail analyst Neil Saunders told NPR earlier this month.
The company announced on Sunday that it was being sold — the result of its second bankruptcy filing in less than a year — to the GA Group along with its prepetition term lender.
-
Relaxed parking enforcement is in effect through Sept. 30 in designated areas. Here’s what’s covered and what’s not. -
Today on AirTalk: L.A. weather, neighborhood input in local events, book on forces behind the NFL, Gen Z talking less, ethanol-blended fuel and raising kids based on gender. -
Three company employees reported minor respiratory irritation and declined further treatment.
"In connection with this agreement, subject to Bankruptcy Court approval of the transaction, the winning bidders plan to begin winding down the Company's operations and conduct going-out-of-business sales at all store locations," Joann said in a statement.
The liquidation sales are set to begin immediately and could take "a number of weeks" to complete, the company noted in an FAQ on its website.
Sponsored message
Joann stores will continue to accept gift cards through Feb. 28. But personalized discounts and discount partnerships, such as those for Girl Scouts and teachers, are being paused, and the company will stop accepting returns.
The Hudson, Ohio-based retailer filed for bankruptcy a year ago, aiming to restructure its ballooning debt. It said at the time that stores would remain open.
But Joann filed for bankruptcy again in January, and interim CEO Michael Prendergast said at the time that executives believed that selling the company was the best course of action.
Earlier in February, as Joann was seeking a buyer, it announced that it would close about 60% of its retail shops nationwide.
Copyright 2025 NPR
Corrected April 29, 2025 at 5:18 PM PDT
A previous version of this story said that Joann was being sold to the GA Group and its term lenders. It would have been more accurate to say that the group offered the winning bid to acquire Joann's assets at auction.
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Senior Vice President News, Editor in Chief
