It is a difficult time for craft lovers across the country. JOANN Fabric, a well-known fabric and craft store, has announced that it will be closing all 800 of its locations. This decision comes after the company was unable to find a buyer following its bankruptcy filing in March 2024.
For many years, JOANN Fabric has been a favorite place for people who love sewing, quilting, and crafting. Customers have relied on the store for a wide variety of fabrics, sewing materials, and craft supplies. However, financial struggles forced the company to take steps that ultimately led to its complete shutdown.
Why Is JOANN Fabric Closing?
JOANN Fabric has been facing financial difficulties for some time. The company first filed for bankruptcy in early 2024 due to low sales and increased costs. At that time, JOANN had hoped to recover by closing only 500 stores. However, as time passed, the company could not find a way to stay in business.
The company tried to find a buyer who could help keep the business running, but no suitable deal was made. Without financial support or a buyer, the company had no choice but to shut down all of its stores.
Official Statement from JOANN Fabric
JOANN Fabric released a statement confirming the closure of all locations. The company expressed sadness over the situation and gratitude for the support it has received over the years. The statement read:
“JOANN leadership, our Board, advisors, and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business. We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders. We deeply appreciate our dedicated Team Members, our customers, and communities across the nation for their unwavering support for more than 80 years.”
This statement shows that the company explored all possible options to remain open but was unable to do so. It also highlights JOANN’s appreciation for its employees and customers, who have been loyal to the brand for many decades.
When Will the Stores Close?
Closing 800 stores is a big task, and JOANN Fabric has shared that the process will take time. The company has not provided a final closing date for all locations. However, going-out-of-business sales have already started in many stores.
The company has explained that store closures will happen gradually and will depend on court approval. If you want to know when your local JOANN store will close, you can check the company’s website or app for updates.
Can Customers Still Shop Online?
For now, customers can still make purchases from the JOANN Fabric website. However, it is unclear how long the website will remain active. The company has not provided details on when online shopping will end, so customers who wish to buy products should do so as soon as possible.
What Happens to Gift Cards and Returns?
If you have a JOANN Fabric gift card, you must use it before February 28. After this date, gift cards will no longer be accepted.
Additionally, the company has announced that it will no longer accept returns. This means that any items purchased during the final sales period cannot be returned or exchanged. Customers should be aware of this before making purchases during the store closing sales.
How Will This Closure Affect Employees and Customers?
The closure of JOANN Fabric will affect many people across the country.
Impact on Employees
Thousands of employees will lose their jobs as a result of the store closures. Many of these employees have worked for JOANN Fabric for years and are now facing uncertainty about their future employment. The company has not announced any specific plans to help employees find new jobs.
Impact on Customers
For customers, the closure of JOANN Fabric is disappointing news. Many people have relied on the store for their fabric and craft supplies, and finding an alternative will not be easy. While there are other craft stores, JOANN had a unique selection of fabrics and materials that may not be available elsewhere.
Some customers may have to switch to online shopping for their crafting needs. However, for those who prefer to see and feel fabrics before buying, this change will be difficult.
What Led to JOANN Fabric’s Financial Struggles?
There are several reasons why JOANN Fabric ended up in this situation.
- Lower Sales – In recent years, fewer people have been shopping at JOANN Fabric stores. Many customers have turned to online shopping, and some have found other stores that offer lower prices.
- High Operating Costs – Running 800 stores across the country is expensive. Rent, employee salaries, and other expenses made it hard for the company to stay profitable.
- Economic Challenges – Many businesses, including JOANN Fabric, have struggled due to economic changes. Higher costs for materials and shipping also affected the company’s ability to make a profit.
- Bankruptcy – When the company filed for bankruptcy in 2024, it was already in a weak financial position. Bankruptcy usually makes it harder for a company to recover because it affects business operations and customer confidence.
What’s Next for JOANN Fabric?
Since the company has not found a buyer, JOANN Fabric’s operations will come to a complete stop once all stores are closed. The company has stated that it is working to make the closure process as smooth as possible for customers and employees.
As the stores close, customers should take advantage of clearance sales to stock up on their favorite items before they are no longer available.
