Joann Fabrics to Close All 800 Stores After Bankruptcy Auction

The 82-year-old crafting retailer will liquidate its assets following its second bankruptcy filing in less than a year.

Joann Fabrics announced it will close all 800 U.S. locations after financial services firm GA Group and lenders acquired its assets in a bankruptcy auction.
The decision comes after the company filed for Chapter 11 bankruptcy for the second time in January 2025, citing weak sales, inventory challenges, and high operating costs.
Going-out-of-business sales have started at all locations, with stores expected to remain open for several weeks to complete liquidation.
Joann's website and mobile app will remain operational during the liquidation process, though gift cards will only be accepted until February 28, and returns are no longer allowed.
The closures mark the end of an 82-year legacy for the Ohio-based retailer, which employed approximately 19,000 workers across 49 states.