All 46 Joann Stores Closing In FL, Bankrupt Retailer Sold At Auction

What to know summary:

• Crafting retailer Joann first filed for Chapter 11 bankruptcy in March 2024, but continued operations after restructuring. A second bankruptcy filing was filed last month.
• The struggling retailer is now set to close all of its locations in Florida and nationwide.
• There are 46 stores in Florida.
• Previously, the company had said some stores would remain open— including 36 in Florida— but those are now also set to close.

Full story:

FLORIDA — The assets of bankrupt fabric and crafts retailer Joann Inc. have gone to the highest bidders, and the company announced over the weekend that all of its stores — including 46 in Florida — are closing.

A group of term loan lenders, along with GA Group, a liquidation firm backed by California-based Oaktree Capital Management, won an auction to acquire what's left of the company.

In connection with the agreement, which is subject to bankruptcy court approval, the winning bidders plan to wind down Joann operations and conduct going-out-of-business sales at all store locations, according to a Sunday announcement from the retailer.

The sale and auction process was revealed last month when Hudson, Ohio-based Joann announced it was undergoing a Chapter 11 bankruptcy restructuring process.

Boston-based Gordon Brothers Retail Partners, LLC, was initially named as the "stalking horse" bidder for Joann, but the retailer was seeking alternate offers. A stalking horse bid sets a floor to avoid subsequent lowball offers.

Prior to the weekend announcement, the company had hoped to keep a fraction of its stores open, including 46 in Florida. That is now off the table.

In the company announcement, Joann said that its leadership, board, advisors and legal team "made every possible effort to pursue a more favorable outcome that would keep the company in business.

"We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact on all our stakeholders," the announcement continued. "We deeply appreciate our dedicated Team Members, our customers and communities across the nation for their unwavering support for more than 80 years."

It's unclear how low prices will drop on Joann merchandise, such as fabric, sewing accessories and arts and crafts offerings. The company is currently promoting steep product discounts through its e-commerce site.

In addition to last month's Chapter 11 filing, Joann also filed in March 2024 but emerged a month later as a private company and managed to keep its stores open.

Before the recent bankruptcy announcement, Joann had more than 800 stores operating across 49 states, as well as its e-commerce business. Here is the list of Joann Florida stores (it's unclear how many, if any, have already shuttered):

• 4610 S. Cleveland Ave., Fort Myers
• 8072 Mediterranean Drive, Estero
• 224 B Eglin Pkwy. NE, Fort Walton Beach
• 2400 W. International Spdwy. Blvd., Daytona Beach
• 6001 Argyle Forest Blvd., Ste. 11, Jacksonville
• 463877 State Road 200, Yulee
• 4241 Us Hwy. 98 N., Lakeland
• 8257 W. Flagler St., Miami
• 10875 Caribbean Blvd., Miami
• 7706 N. Kendall Drive, Miami
• 1131 S. Federal Hwy., Pompano Beach
• 4700 Hollywood Blvd., Hollywood
• 1632 S. Federal Hwy., Boynton Beach
• 3340 NW 62nd Ave., Margate
• 940 S. State Road 7, Wellington
• 11251 Pines Blvd., Pembroke Pines
• 801 S. University Drive, Suite 75, Plantation
• 3942 Northlake Blvd., West Palm Beach
• 6424 Naples Blvd., Ste. 501, Naples
• 4934 S. Tamiami Trail, Sarasota
• 4143 Tamiami Trail South, Bay 20, Venice
• 2405 SW 27th Ave., Ocala
• 540 N. US Hwy. 441, Lady Lake
• 3562 E. Colonial Drive, Orlando
• 924 W. State Road 436, Ste. 1450, Altamonte Springs
• 825 N. Alafaya Trail, Orlando
• 4801 W. Irlo Bronson Memorial Hwy., Kissimmee
• 120 N. Entrance Road, Sanford
• 3379 Daniels Road, Winter Garden
• 5921 20th St., Unit B, Vero Beach
• 4387 Commercial Way, Spring Hill
• 10057 US Highway 19, Port Richey
• 6234 Commerce Palms Blvd., Tampa
• 12635 Citrus Plaza Drive, Tampa
• 2500 66th St. N., St. Petersburg
• 2343 Curlew Road, Dunedin
• 3563 NW Federal Hwy., Jensen Beach
• 1802 Thomasville Road, Tallahassee
• 11215 Causeway Blvd., Brandon
• 1537 W. New Haven Ave., West Melbourne
• 413 E. 23rd St., Panama City
• 365 E. Burleigh Blvd., Tavares
• 4437 Commons Drive E., Destin
• 8441 Cooper Creek Blvd., University Park
• 6601 N. Davis Hwy., Ste. 25, Pensacola
• 1522 3rd St. SW, Winter Haven