The seller of craftsmen and manufacturers Joann, who has been doing business over the last 80 years, has announced that he has been concluding all 800 of his stores in 49 statistics and after operation for financial unrest and low sales.
The company has 19,000 employed, of which 15,600 are part of it.
Joann applied for bankruptcy in March 2024 and switched from a publicly traded company to a private company while showing debt between $ 1 billion and $ 10 billion. The company applied for bankruptcy at the beginning of this year, then said it would close 500 of its seats and would be about 300 open when it tried and failed, to find the buyer to keep him in business.
Assets were auctioned on Friday. According to a press release, GA Financial Services Group was selected as a winner. As part of the Agrement, GA will close the company’s operations and decide to close the door of all 800 Joann stores.
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“The management of Joann, our council, advisors and legal partners, made all possible efforts to achieve a more favorable result that the company would maintain in business,” he read the hundred. “We are determined to cooperately cooperate with the winning candidate to ensure the proper end of operations that minimize the impact on all our parties.”
Joann said that apartment sales would start implicitly in all places and online, with a timeline for closing the store still unclear. According to the Company’s customers, the closing data of the trade will be published “as soon as possible” and the company’s exposure to get “several weeks” to complete its final sale.
In the Joann Store in Miami, Florida. Photo by Joe Raedle/Getty Images
Crafters and designers took X to express their sadness, that Joann was closed.
“Joann is the reason I was able to have a small part of my life because the designer/manufacturer,” wrote one X -user. “It was the only accessible production store for millions of people. I’m gutted.”
Another X user wrote that it was a “Dark Day for Crafters”, while others said that “the world feels more and more inspiration and community”.
Sewist Julie Muniz preceded a different acquisition, writing to LinkedIn that shopping in Joann was a “more necessary evil than an inspirational experience” and that “it also relies on the niche market and is not strong enough to loyalty and customer experience for customers in permanent heritage. ”
Joann is why I could have a small part of my life because the designer/manufacturer. It was the only available production store for millions of people. I’m gutted. https://t.co/fdjzhwd4bk
– Kathryn Henzler (she/her, ace, sponing) ?? (@Kathynhenhenzler) February 24, 2025
Okay, but Joann Fabrics FINILLY biting a bullet is super sad news. It’s a dark day for Crafters to be in the middle of the project and be able to run to the store for a quick item.?
– Evil (@copperthimble) February 24, 2025
I’m so sad, that Joann’s production is closed. I hate this online retail world where you can look and touch manufacturers to inspire to create, and you can meet foreigners who share your interests in stores. The world feels more and more inspiration and community
– ✨Paige✨ (@bejeweledPaige) February 25, 2025
Joann was founded in 1943 as a production shop of Cleveland. At the age of 60, it began to be called Jo-Ann Fabrics, then Joann eventually in March 2018.
Joann is not the only shop that recently closed the door. In October, Kmart closed his last American full -size shop, while Sears closed his last rental in New York in January, reducing the total number of US stores to just a dozen.
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