Unfortunately for crafters, all 800 JOANN locations are now set to close after the company was auctioned off to a new ownership group.
The fabric and craft retailer originally announced its second bankruptcy filing along with a handful of store closures this past January. However, when that handful of stores increased to around 500 locations in February, customers began to worry, rightfully so. It’s now clear that JOANN Fabrics is officially going out of business.
According to a company-issued statement, last-chance sales are expected to start immediately:
“Following a comprehensive sale process and auction, GA Group together with the Prepetition Term Loan Agent, has been selected as the winning bidder to acquire substantially all of JOANN’s assets. In connection with this agreement, subject to Bankruptcy Court approval of the transaction, the winning bidders plan to begin winding down the Company's operations and conduct going-out-of-business sales at all store locations.”
So what exactly does this mean for crafters across the country? Here’s everything we know about the timeline of store closures, whether the brand will still be available online and your last chance to use any gift cards you might have.
When will JOANN stores close?
According to a company-issued FAQ, JOANN will begin to conduct going-out-of-business sales at all locations immediately. To find out when your local JOANN Fabrics will close, keep a close eye on the company's website and app for updates.
"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 brand noted.
Will JOANN still be available online?
As of now, customers can continue to shop at JOANN stores, Joann.com and the app while the retailer conducts going-out-of-business sales, according to JoannRestructuring.com. The FAQ states that more information about app and website operations will be available soon.
When is your last chance to use JOANN gift cards and discount coupons?
JOANN stores will be accepting gift cards until February 28, so if you have money towards the craft and fabric retailer, use it as soon as possible.
While the brand hasn't made a specific statement about coupons, they do state that "personalized discounts and discount partnerships (e.g. Girl Scouts, Teachers, Military and Healthcare)" will be paused at this time. Stores will no longer be accepting returns at this point, either.
However, customers will still be able to shop JOANN products at special prices during their going-out-of-business sales that are happening now across the country.
Laura Millar (she/her) is the assistant lifestyle editor for Good Housekeeping, where she covers home design. Prior to joining Good Housekeeping in 2024, she wrote for NBC's TODAY.com, where she covered everything from entertainment news to pop culture updates.
