Joann to shutter all 800 fabric stores after failing to find a buyer to save its locations

Joann, the fabric retailer with around 800 locations, will close all its stores after failing to find a buyer.

The company, which filed for bankruptcy in January 2024, will begin nationwide going-out-of-business sales as part of its asset auction.

Despite efforts to secure a better outcome, Joann announced the closure, acknowledging the support of employees, customers, and communities over its 80-year history, NBC News has reported.

Founded during World War II, Joann once led the U.S. fabric market but struggled in recent years, filing for Chapter 11 after a sales decline following a pandemic-related revival.

read more: https://www.nbcnews.com/business/business-news/joann-shutter-800-fabric-stores-find-buyer-locations-rcna193536

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