Joann fabric and craft company announces plans to close 500 stores amid Chapter 11 bankruptcy
Joann, the well-known fabrics and craft store company, has announced plans to close approximately 500 stores across the country as it seeks to reorganize during Chapter 11 bankruptcy protection, the company announced this week.
Joann to close 500 of its 800 fabric and craft stores
Joann is part of a growing trend of retailers closing stores as consumers reduce spending. With other brands like Kohl's and Macy's also scaling back, more than 15,000 store closures across all businesses are expected in 2025, double the number from last year, according to Coresight Research.
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Joann, the fabric and craft chain, plans to close about 500 stores across the country — more than 60% of its retail outlets — as slumping sales and declining market share have forced the company ...
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