Several Joann stores are closing as the fabric and crafts store files for Chapter 11 bankruptcy for the second time.
Multiple Joann fabric and craft stores are reportedly set to close, less than a year after the company filed for bankruptcy.
Joann Inc., the Hudson, Ohio-based parent of hundreds of Jo-Ann fabrics and craft stores nationwide, filed for Chapter 11 bankruptcy protection in Delaware on Wednesday — the company's second bankruptcy filing in two years.
Joann did not provide information on the date of the impending closings. Local news outlets in Pennsylvania, Iowa, Massachusetts and Delaware reported dates for local store closures ranging from Jan. 12 to Jan. 19. A worker at the Owings Mills, Maryland, location said it would be closing Jan. 19.
Craft retailer Joann Inc filed for Chapter 11 protection in Delaware on Wednesday, saying that inventory shortages had forced it to back into bankruptcy for the second time in less than a year.
This is the second time Joann has declared bankruptcy in less than 12 months. In April 2024, the company completed a restructuring that saw it delisted from the U.S. stock exchange and become a private company as part of a bankruptcy deal.
As the year begins, some retailers are making the tough decision to shutter stores across the country. Some are closing permanently and as they announce their waves closures. Customers will have to say goodbye to some department store locations such as Macy's and Khols.
Joann, a fabric and craft retailer, announced it filed for bankruptcy for the second time within a year due to financial and inventory issues.
For the second time within a year, JOANN Fabrics has announced it has filed for Chapter 11 bankruptcy with the intent to sell.
Due to financial and inventory issues, Joann filed Chapter 11 bankruptcy for the second time in a year and is seeing closures in stores nationwide.
Joann fabrics and craft store has filed for bankruptcy — again. The craft retailer filed for bankruptcy Wednesday, about nine months after its first bankruptcy filing in March 2024. After last year's filing, the company went private and was able to keep all of its stores open, despite owing $1 billion in debt.
Joann fabrics and craft store filed for bankruptcy for a second time within a year and is seeking a sale. The retailer said sluggish sales and inventory issues forced Joann to file for Chapter 11 again,