The closures will affect stores nationwide, with significant impacts in states such as California, New York, Florida, Indiana, Michigan, and Pennsylvania.
Joann Fabrics and Crafts has announced plans to close approximately 500 of its 800 stores across the United States after filing for Chapter 11 bankruptcy for the second time in less than a year. The company cited ongoing financial challenges, including decreased consumer spending due to inflation and inventory issues, as primary reasons for the closures.
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The closures will affect stores nationwide, with significant impacts in states such as California, New York, Florida, Indiana, Michigan, and Pennsylvania. For instance, all 10 Joann stores in Connecticut are slated for closure, including locations in Brookfield, Clinton, Manchester, Enfield, Newington, Southington, Hamden, Milford, Torrington, and Norwich.
Interim CEO Michael Prendergast expressed that the decision to “right-size” the company’s footprint is a critical part of efforts to secure its future. The company is seeking a buyer through a court-supervised sale process to continue operations.
The specific timeline for store closures and the total number of employees affected have not been disclosed. Customers are encouraged to check with their local stores for more information.
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