Updated April 29, 2025 at 8:18 PM EDT
Joann, the major national retailer of fabric and craft supplies, is going out of business and closing all of its nearly 800 stores in 49 states by the end of May.
The more than 80-year-old chain formerly known as Jo-Ann Fabrics had been struggling financially for several years following a DIY-driven uptick in sales during the early days of the pandemic.
Joann has lost market share to online retailers and brick-and-mortar competitors such as Hobby Lobby and Michaels, retail analyst Neil Saunders told NPR earlier this year.
In February, Joann announced that GA Group and the company's term lenders had secured the winning bid to acquire Joann's assets at auction, after Joann declared bankruptcy for the second time within a year.
"In connection with this agreement, subject to Bankruptcy Court approval of the transaction, the winning bidders plan to begin winding down the Company's operations and conduct going-out-of-business sales at all store locations," Joann said in a statement at the time.
On Tuesday, a spokesperson for the GA Group told NPR that 255 locations have closed already or will close by the end of April. The remaining 535 Joann stores are set to close sometime next month.
The going-out-of-business sale is only occurring in stores, since Joann's website is no longer accepting online orders. However, it still contains information about discounts and store locations.
The Hudson, Ohio-based retailer filed for bankruptcy over a year ago, aiming to restructure its ballooning debt. It said at the time that stores would remain open.
But Joann filed for bankruptcy again in January, and interim CEO Michael Prendergast said at the time that executives believed that selling the company was the best course of action.
Earlier in February, as Joann was seeking a buyer, it announced that it would close about 60% of its retail shops nationwide.
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