Going Out Of Business Sales Heat Up At National Retailer

CONNECTICUT — Amid aggressive going out of business sales and a company declaration that May will be it for the Joann fabrics and craft chain stores in Connecticut, officials are remaining vague on when the exact final day will be.

On March 6, officials for the chain announced that closing sales had commenced, with stores remaining open until the "end of May" or until inventory dries up.

Stores in Connecticut include Manchester, Enfield, Newington, Southington, Hamden, Milford, Norwich, Torrington, Clinton and Brookfield.

Calls to the stores are met with a hyper-sounding narrator telling us in a very excited voice reminiscent of an old used car dealer ad that the final sales are still ongoing and deep discounts are up for grabs.

"The more you spend, the more you save," the voice says.

The voice also warns callers that the staff was "So busy" that many questions can not be answered over the phone, Staffers in Manchester and Enfield did answer, but would not even hint at a final day.

Signs in front of the Enfield location are proclaiming everything is up yo 60 percent off, up from an initial 40 percent.

Adding to the vagueness are other signs proclaiming "nothing held back," but also "now hiring part-time."

So it appears Joann will vanish from the retail landscape sometime next month.

The store closing process is being managed by GA Group, a leading asset disposition, valuation, appraisal, and real estate services firm with extensive expertise in large-scale retail liquidations, together with Tiger Group, a financial, disposition, asset-valuation and advisory services firm.

The March closing announcement said the sale was expected to last for approximately 12 weeks, "until the end of May, or until supplies last."

All furniture, fixtures, and equipment are also available for purchase. The retailer's intellectual property and leases will also be sold as part of the process, officials said.

GA Group was recognized as the successful bidder to serve as Joann's exclusive agent to "monetize" substantially all of the chain's assets pursuant to an auction approved by the U.S. Bankruptcy Court for the District of Delaware on Feb. 26.