Joann Fabrics announces closure of 500 stores amid financial struggle

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Joann Fabrics, a long-term destination for crafts and DIY enthusiasts, has dropped dramatically in its size. The company has announced plans to close about 500 of its 850 U.S. locations, marking a major turnaround for retail chains. After Joann filed for a second bankruptcy in less than a year. The company initially filed a lawsuit in early 2024 and then went privately in March, but the ongoing financial struggle forced a round of restructuring. We know the main impact it will have on our team members, our customers, and all the communities we serve. company. “While some locations will remain open, Joan is clearly experiencing a major shift to maintain an increasingly competitive retail landscape. Joan Fabric has been a staple for sewing, sewing and crafts for decades, but like Like many traditional retailers, working to keep pace with efforts to change shopping habits and economic pressures, more than half of their stores will be closed, and loyal customers may need to turn to online shopping or look for alternative stores to meet their production needs. Joann Fighting for survival, many people want to know what the future of this beloved brand is.

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