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Joann, the bankrupt fabrics retailer, is closing 500 of its 800 stores

  • Joann expects to close approximately 500 stores nationwide as part of bankruptcy proceedings, according to CNN.
  • The closures will affect stores in all 50 states, with California, Florida, Indiana, Michigan, New York, Pennsylvania, and Washington being the hardest hit.
  • Joann previously filed for bankruptcy in March 2024 and emerged as a private company a month later, but filed for Chapter 11 bankruptcy again last month.
  • A Joann spokesperson stated, 'This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers and all of the communities we serve.
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KGAN broke the news in on Wednesday, February 12, 2025.
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