Joann Fabrics Announces Closure of 500 Stores Amid Financial Struggles

Joann Fabrics, a longtime go-to destination for crafters and DIY enthusiasts, is drastically downsizing. The company has announced plans to close approximately 500 of its 850 U.S. locations, marking a major shift for the retail chain.

The closures come after Joann filed for bankruptcy for the second time in less than a year. The company initially filed in early 2024 before going private in March, but ongoing financial struggles have forced another round of restructuring.

In a statement to USA TODAY, Joann acknowledged the tough decision, saying, “This was a very difficult decision to make, given the major impact we know it will have on our Team Members, our customers, and all of the communities we serve.”

The company explained that the decision to close stores was based on “a careful analysis of store performance and future strategic fit for the company.” While some locations will remain open, Joann is clearly undergoing a significant transformation to stay afloat in an increasingly competitive retail landscape.

For decades, Joann Fabrics has been a staple for sewing, quilting, and crafting supplies, but like many traditional retailers, it has struggled to keep up with changing shopping habits and economic pressures.

With more than half of its stores set to close, loyal customers may need to turn to online shopping or find alternative stores for their crafting needs. As Joann fights to survive, many are left wondering what the future holds for the beloved brand.