Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

Joann to shutter all 800 fabric stores after failing to find a buyer to save its locations

by admin February 26, 2025
February 26, 2025
Joann to shutter all 800 fabric stores after failing to find a buyer to save its locations

Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open.

In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction.

‘JOANN leadership, our Board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business,’ the company said. ‘We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders. We deeply appreciate our dedicated Team Members, our customers and communities across the nation for their unwavering support for more than 80 years.”

Joann was founded as the Cleveland Fabric Shop by German immigrants during World War II. At one point, it was the largest fabrics retailer in the U.S.

The company went public in 2010, but was de-listed within a year. It experienced a brief revival thanks to the stay-at-home crafts boom during the pandemic. Joann went public again in 2021, but by 2023 its sales had tanked, and it filed for an initial bankruptcy proceeding in 2024.

Joann listed some 19,000 employees, most of them part-time, when it filed for its second Chapter 11 bankruptcy protection filing in January.

The company posted an extensive FAQ on its website with details about the going-out-of-business sales, which are set to commence immediately.


This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Denny’s says some locations will start charging extra for eggs amid nationwide shortage
next post
Starbucks to lay off 1,100 corporate workers as sales sag

Related Posts

Nike pushes back Skims launch with Kim Kardashian...

June 20, 2025

Musk says he’s sending Starlink tech to FAA...

March 3, 2025

Delta Airlines cancellations and delays continue but worst...

July 25, 2024

OpenAI releases Sora, its buzzy AI video-generation tool

December 11, 2024

FCC greenlights Paramount’s $8 billion merger with entertainment...

July 26, 2025

Three Mile Island nuclear plant to help power...

September 21, 2024

Budget airline Spirit is trying to go upmarket...

July 31, 2024

Gas prices are rising. Here’s how to stretch...

July 9, 2024

Pfizer CEO says tariff uncertainty is deterring further...

April 30, 2025

Under Armour is laying off workers as retailer...

May 17, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Sydney Sweeney jeans controversy making advertising great again

      August 10, 2025
    • Nagasaki mayor issues chilling warning on 80th anniversary of atomic bombing

      August 10, 2025
    • Kash Patel celebrates major FBI achievements and record seizures during Trump’s first 200 days in office

      August 10, 2025
    • Trump nominates State Department spokeswoman Tammy Bruce as UN deputy representative

      August 10, 2025
    • White House responds to surge in Christian persecution crisis across sub-Saharan Africa

      August 10, 2025

    Categories

    • Business (1,058)
    • Investing (2,793)
    • Politics (3,438)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved