Is Joann closing locations? Here’s what we recognize about about stores reportedly shuttering
impoverished information for the crafters out there: more Joann fabric and craft stores are slated to close in the coming weeks, according to industry and local reports.
The retailer, which operates around 850 stores in 49 states according to its website, filed for Chapter 11 insolvency protection in Delaware back in March. In a statement at the period, the Ohio-based retailer said it had secured approximately $132 million in recent financing and “related monetary accommodations” and expected a reduction of its $1 billion total debt by about $500 million.
The business went private in 2011, when it was purchased by the ownership firm Leonard Green & Partners for about $1.6 billion. In 2021, Joann was still majority-owned by Leonard Green & Partners and went community at an initial stock launch at $12 a distribute.
The business went private again after completing the insolvency procedure, however, with shares no longer listed by the Nasdaq or any other national distribute trade. At the period, CEO Scott Sekella said 95% of Joann’s 815 operating stores were profitable. He later left the business and was replaced by interim CEO Michael Prendergast, who joined the business along with other recent executives.
In a statement to Retail Dive, Joann’s director of corporate communications Amanda Hayes said the locations are being closed “as part of schedule store location evaluation and optimization” and not a major shuttering occurrence. “We also opened recent and remodeled locations in recent months, including recent stores in Great Falls, MT and Maplewood, MN,” she said.
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Joann was founded in 1943 and sells a variety of crafting supplies including fabric by the yard, sewing machines, Cricut machines, yarn, home decor and more.
Joann did not immediately respond to requests for comment.
Which Joann locations are closing?
At least eight stores across Iowa, North Carolina, Maryland, Pennsylvania, recent York and Massachusetts are closing, according to Retail Dive, local information reports and confirmation provided to USA TODAY. The retailer did not provide further details on other upcoming plans.
- Maryland: 10377 Reisterstown Rd, Owings Mills
- Massachusetts: 2267 Northampton St., Holyoke
- recent York: 2309 N Triphammer Rd, Ithaca
- North Carolina: 2102 US Hwy 70 SE, Hickory
- Iowa: 3200 Agency Street, Ste 110, Burlington
- Pennsylvania: 2481 E State St, Hermitage and 1746 E 3rd St, Williamsport.
When are the Joann locations closing?
Joann did not provide information on the date of the impending closings. Local information 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.
