Joann Inc., the beloved fabric and crafts retailer that has been a go-to destination for quilters, knitters, and DIY enthusiasts for over 80 years, is closing all of its stores and going out of business. The announcement marks the end of an era for the Hudson, Ohio-based company, which has faced significant financial challenges in recent years.
A History of Financial Struggles
Joann’s decision to close its doors comes after the company filed for Chapter 11 bankruptcy protection in January 2025—its second bankruptcy filing in less than a year. The retailer cited sluggish consumer demand and inventory shortages as key factors in its financial decline. Despite initially vowing to keep all stores open, Joann announced earlier this month that it would close 500 stores, representing more than half of its nationwide footprint.
On Sunday, the company revealed that financial services firm GA Group, along with Joann’s term lenders, had been selected as the winning bidder to acquire “substantially all of Joann’s assets.” This acquisition will lead to the winding down of the company’s operations, including going-out-of-business sales at all remaining store locations.
What Happens Next?
In a question-and-answer section on its website, Joann assured customers that its stores, website (Joann.com), and mobile app will remain operational during the going-out-of-business sales. The company stated that closure dates for stores and any changes to its online platforms will be announced as soon as possible.
“We expect it will take a number of weeks to complete our final sales,” Joann said in its announcement. The retailer also emphasized its commitment to working with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on employees, customers, and other stakeholders.
A Legacy of Creativity and Community
Founded over eight decades ago, Joann has been a cornerstone of the crafting community, offering fabrics, sewing supplies, yarn, and other materials for countless DIY projects. For generations, it has been a haven for hobbyists, artists, and families looking to create something special.
The company’s first bankruptcy filing in March 2024 led to its transition to a private company. However, ongoing operational challenges and shifting consumer habits made it difficult for Joann to regain its footing. Despite efforts to stabilize the business, the retailer ultimately could not overcome its financial hurdles.
A Message from Joann
In a statement posted on its website, Joann expressed its regret over the outcome. “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 statement read. “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.”
The End of an Era
Joann’s closure is a significant loss for the crafting community, which has relied on the retailer for affordable supplies, inspiration, and a sense of connection. As the company prepares to close its doors, customers are encouraged to take advantage of the upcoming sales to stock up on materials for their next projects.
While Joann’s physical presence will soon be gone, its legacy as a hub for creativity and community will live on in the countless projects and memories it helped bring to life.