80-Year-Old Crafts Retailer Joann to Liquidate All Stores
2025-02-25
Joann Inc., an 80-year-old fabric and crafts retailer, is going out of business and closing all its stores after failing to overcome operational challenges. The company, which filed for Chapter 11 bankruptcy twice in less than a year, cited weak consumer demand and inventory issues. Despite initially vowing to stay open, Joann ultimately accepted a bid from GA Group to liquidate its assets, leading to going-out-of-business sales at all locations. While the website and app will remain operational for the time being, the closure of all stores marks the end of an era for the long-standing retailer.