Joann is closing 533 of its 800 materials and crafts shops as a part of its chapter course of. The record contains not less than 67 shops in California, 42 in Florida and 41 in Michigan.
“This was a really tough determination to make, given the main influence we all know it is going to have on our Group Members, our prospects and all the communities we serve,” a spokesperson of Joann stated through assertion to WWD. “Proper-sizing our retailer footprint is a essential a part of our efforts to make sure the most effective path ahead for JOANN.”
The corporate filed a movement in search of courtroom authority for the downsizing on Wednesday.
Joann filed for a Chapter 11 chapter petition on Jan. 15 and hopes to promote its property to maintain chosen shops in operation. Whereas a chapter public sale is slated for Friday, Gordon Brothers Retail Companions is taken into account the “stalking horse” bidder for “considerably all of its property” for an undisclosed worth.
Joann beforehand filed for Chapter 11 in March 2024, exiting the method six weeks later as a non-public firm owned by its collectors.
WWD reported in January that, in response to Coresight Analysis, a analysis and advisory agency specializing in retail and expertise, roughly 15,000 shops will shut this yr within the U.S. In 2024, U.S. retailer closures totaled 7,325, the best variety of retailer closures seen since 2020. Macy’s, Kohl’s and Liberated Manufacturers are some manufacturers which have already introduced plans to downsize or utterly shut down this yr.
Joann launched a web site to make sure transparency throughout its restructuring part. “JOANN is dedicated to offering our prospects — the sewists, quilters, crocheters, crafters and different artistic fanatics we’ve served for greater than 80 years — with nice service and assortments and to supporting our hundreds of Group Members throughout the nation all through this course of,” says the web site.
The whole record of shops included within the closing movement is offered at joannrestructuring.com. Right here, see a breakdown of Joann shops closing per state.
CA (California): 67 shops
FL (Florida): 42 shops
MI (Michigan): 41 shops
OH (Ohio): 35 shops
PA (Pennsylvania): 34 shops
NY (New York): 31 shops
IL (Illinois): 30 shops
WA (Washington): 25 shops
IN (Indiana): 24 shops
MA (Massachusetts): 19 shops
MN (Minnesota): 15 shops
WI (Wisconsin): 15 shops
TX (Texas): 15 shops
GA (Georgia): 14 shops
MD (Maryland): 13 shops
VA (Virginia): 13 shops
NC (North Carolina): 7 shops
NH (New Hampshire): 7 shops
OR (Oregon): 15 shops
TN (Tennessee): 8 shops
AZ (Arizona): 11 shops
IA (Iowa): 6 shops
ME (Maine): 3 shops
CT (Connecticut): 9 shops
SC (South Carolina): 6 shops
MO (Missouri): 6 shops
LA (Louisiana): 5 shops
KY (Kentucky): 7 shops
AR (Arkansas): 4 shops
AL (Alabama): 3 shops
AK (Alaska): 2 shops
CO (Colorado): 6 shops
DE (Delaware): 2 shops
ID (Idaho): 2 shops
KS (Kansas): 3 shops
MT (Montana): 2 shops
MS (Mississippi): 2 shops
ND (North Dakota): 1 retailer
NE (Nebraska): 1 retailer
NJ (New Jersey): 5 shops
NM (New Mexico): 2 shops
NV (Nevada): 2 shops
OK (Oklahoma): 3 shops
RI (Rhode Island): 1 retailer
SD (South Dakota): 1 retailer
UT (Utah): 3 shops
VT (Vermont): 2 shops
WV (West Virginia): 2 shops
WY (Wyoming): 2 shops