Fabric and craft retailer Joann has announced the closure of approximately 500 stores in the United States as a result of post-pandemic financial struggles and bankruptcy filings. The company, which filed for Chapter 11 bankruptcy protection in January, is undergoing its second bankruptcy filing, having previously filed in March 2024. After reemerging as a private company following its first bankruptcy, Joann continued to face challenges, leading to the current situation.
In Minnesota, 12 out of the 21 Joann stores are set to close, including locations in Apple Valley, Coon Rapids, and Mankato. In Wisconsin, 16 out of the 23 stores are slated for closure, including stores in Fond du Lac, Madison, and Racine. The closures are necessary as the company looks to sell the business and streamline operations. Despite the closures, a handful of stores will remain open in both states.
This announcement marks a significant shift for the popular retailer, impacting both employees and customers in the affected areas.
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