Joann, a crafts and fabric retailer, is shutting down roughly 500 of its 800 stores while undergoing its second bankruptcy process in less than a year. The closures originate from severe inventory issues and unexpected production halts. While specific store locations have not been disclosed, affected states include California, Florida, Indiana, Michigan, New York, Pennsylvania, and Washington. The company acknowledged the emotional toll of these decisions on employees and communities but asserted that resizing the store footprint is essential for recovery.
Joann, the fabrics and crafts retailer, is closing more than half of its 800 stores as it navigates the bankruptcy process, marking its second filing in a year.
The company's second bankruptcy reflects critical inventory issues and unexpected production cessations, prompting a significant right-sizing of its store footprint across all 50 states.
This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers, and all of the communities we serve.
Court documents reveal the upcoming store closures will impact locations in California, Florida, Indiana, Michigan, New York, Pennsylvania, and Washington, among others.
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