Overview

• Joann Fabrics, founded in 1943, is permanently shutting down after more than eight decades in business.
• The company filed for Chapter 11 bankruptcy twice within a year, leading to a February 2025 asset auction won by GA Group and term lenders.
• Over 440 stores nationwide are holding going-out-of-business sales with discounts of 70–90%, including inventory, fixtures, and equipment.
• Joann already closed 255 locations in April, with the remaining stores slated to close by May 31, 2025.
• The closures reflect broader struggles in the retail sector, with other major chains like Macy’s and Kohl’s also reducing their physical footprints.