It’s the end of a long road for JOANN fans. After 82 years in business, the beloved fabric and crafting chain is going out of business and closing all 800 store locations across the country.
On Sunday, the company, which has been struggling financially for over a year and recently filed for its second bankruptcy, announced that it has been sold to liquidator GA Group and a lender, according to The New York Times. Pending final approval on Wednesday from the U.S. Bankruptcy Court in the District of Delaware, all 800 stores will close permanently and start going-out-of-business-sales. Here’s what you need to know if you’d like to shop JOANN one last time.
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JOANN’s Long Battle to Survive
As we’ve previously reported, JOANN has not had an easy go of it over the past year.
In March 2024, the crafting chain first filed for Chapter 11 bankruptcy to protect its retail footprint and preserve store locations. Then, in January 2025, JOANN filed for Chapter 11 again due to its overwhelming debt of over $615 million. Shortly after, JOANN’s plans to close six retail locations ballooned to 533 stores.
Now that GA Group and a lender have acquired “substantially all of JOANN’s assets,” they plan to dissolve the company, which currently has over 19,000 employees across the country.
Unless an e-commerce group swoops in to buy the brand, like what happened with failing chain Bed, Bath & Beyond, JOANN as a household name and brand will cease to exist, reports The Washington Post.
The company has released a statement about its sale, saying:
“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. 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.”
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How to Shop JOANN’s Going-Out-of-Business Sales
As all 800 retail locations in 49 states are set to close soon—no specific dates have been announced—now is the time to head to your nearest JOANN store.
Going-out-of-business sales are starting immediately, according to JOANN’s restructuring website.
“Customers will have the opportunity to purchase our assortment at special prices during the going-out-of-business sales and can continue to shop at JOANN stores, JOANN.com, or on the JOANN mobile app.”
Personalized discounts, such as those offered to Girl Scouts, Teachers, Military and Healthcare, are now paused, and JOANN will no longer be accepting any returns.
However, gift cards will still be accepted through Feb. 28, 2025.
“Any dates for store closures or changes to the website and app will be communicated as soon as possible, and we expect it will take a number of weeks to complete our final sales,” the company says. For the latest info, they are directing customers to JOANNRestructuring.com.
