SHOPPERS are devastated as JoAnn, the popular fabric and craft retailer, prepares to close another flagship store along with two more locations.
One of the stores set to shut down is located at Lakemore Plaza Shopping Centre in Akron, Ohio.
facebook/@retaildeadoraliveThe latest closures follow a pattern of store shutdowns across the country[/caption] facebook/@retaildeadoraliveThe retailer has been struggling with declining foot traffic and increasing competition from online sellers and discount stores[/caption]JoAnn has been a go-to destination for craft enthusiasts, offering fabrics, sewing supplies, and home décor for decades.
However, the retailer has been struggling with declining foot traffic and increasing competition from online sellers and discount stores.
Regular shoppers expressed sadness over the news, with one customer commenting: “Shame it’s one of the locations closing.
“It’s been here as long as I can remember.
“The store is very clean, fully stocked, and has decent business.”
“The closures have sparked reactions on social media, with Facebook users expressing their disappointment.
One person wrote: “All of them are closing around me within a 45-minute radius.”
In January 2025, JoAnn filed for Chapter 11 bankruptcy for the second time in a year, citing continued declining sales and constrained inventory levels.
As part of its restructuring efforts, the company announced plans to close 530 of its 800 stores across more than 40 states, with the most significant impacts in California, Florida, Indiana, Michigan, New York, Pennsylvania, and Washington
Interim CEO Michael Prendergast stated that “right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for JOANN.”
The company is seeking approval from the U.S. Bankruptcy Court for the District of Delaware to facilitate a sale process aimed at maximizing the value of its business.
Gordon Brothers Retail Partners, LLC is serving as the initial bidder in this process.
Remaining JoAnn locations and the brand’s online store will continue to operate as usual during the proceedings.
Other major retailers have also faced similar challenges, with brands like Bed Bath & Beyond and Tuesday Morning recently filing for bankruptcy and shuttering stores nationwide.
facebook/@retaildeadoraliveTwo more ‘retro’ stores will permanently close[/caption] Read More Details
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