Joann Fabrics to Shutter Hundreds of Stores Nationwide: – Is Your Local Store on the List?It’s a tough time for brick-and-mortar retail, and Joann Fabrics is the latest chain feeling the pinch. The fabric and craft retailer is closing approximately 500 stores nationwide following its second bankruptcy filing in less than a year.
Why is this happening?
Joann, like many retailers, has faced significant financial challenges in recent years. These include
- Changing shopping habits: -More consumers are shopping online.
- Debt: -The company took on a lot of debt to fund a buyout.
- Rising costs:– Tariffs and inflation have made importing fabrics more expensive.
- Oversaturation of stores:– Some experts believe Joann had too many locations.
Michael Prendergast, Interim Chief Executive Officer of JOANN, said the decision was difficult but necessary for the company’s long-term survival. He cited “significant and lasting challenges in the retail environment” and the company’s “current financial position and constrained inventory levels” as factors.The company initially filed for Chapter 11 bankruptcy in March 2024. While they planned to keep stores open at the time, the company began Chapter 11 proceedings to start a sale process in January 2025.
What’s next?
Shoppers can expect major discounts at closing stores, with some items marked down up to 90% off. Finance expert Kevin Thompson suggests more closures are likely as Joann tries to streamline operations.
California Hit Hard: 61 Locations Closing
California is among the states with the most closures, with 61 stores set to close their doors.The following Joann stores in the greater Sacramento area are slated for closure:
- 3130 Arden Way, Sacramento, CA 95825
- 375 W Main St Ste E, Woodland, CA 95695
- 1010 East Bidwell Street, Folsom, CA 95630
- 5489 Sunrise Blvd, Citrus Heights, CA 95610
- 2717 Countryside Drive, Turlock, CA 95380
- 1151 Sanguinetti Road, Sonora, CA 95370
- 11 N State Highway 49-88, Jackson, CA 95642
- 2210 Daniels St, Manteca, CA 95337
- 10916-B Trinity Parkway, Stockton, CA 95219
- 2051 Harbison Dr, Vacaville, CA 95687
- 704 West Onstott Rd, Yuba City, CA 95991
Two Joann stores in the area will remain open
- 5811 Five Star Blvd, Roseville, CA 95678-3533
- 200 Standiford Avenue, Modesto, CA 95350-1153
Is this the end for Joann?
Not necessarily. Experts say retailers who can blend physical and digital shopping experiences (“phygital“) will be the ones to succeed. By focusing on long-term sustainability and adapting to changing consumer needs, Joann hopes to remain a significant player in the crafting industry.
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