Joann Fabrics Plans To Close 12 Stores In MN, 500 Nationwide

MINNESOTA — The bad news keeps coming for fabrics and crafts retailer Joann, which will close 500 of its 800 stores, according to reports. This comes after the company filed for bankruptcy for a second time last month.

Court filings show that Joann will close stores in all 50 states, with California, Florida, Indiana, Michigan, New York, Pennsylvania, and Washington among those affected most, according to CNN.

The 81-year-old Ohio-based retailer identified all 12 Minnesota stores for potential immediate closure in court documents, according to NEXSTAR:

• Hibbing: 990 W 41st St Ste 2
• Mankato: 1400 Madison Avenue Suite #500
• Woodbury: 8208 Tamarack Vlg
• Maple Grove: 12550 Elm Creek Blvd N
• Coon Rapids: 12779 Riverdale Blvd NW
• Apple Valley: 7614 150th St W
• Elk River: 19154 Freeport Street NW
• Shakopee: 4120 Dean Lakes Boulevard
• Hutchinson: 1060 Highway 15
• Bemidji: 1401 Paul Bunyan Dr NW Ste 60
• Willmar: 1605 1st St S
• Faribault: 200 Western Ave NW, Suite C10

A company spokesperson said that “right-sizing our store footprint is a critical part of our efforts to ensure the best path forward.” The spokesperson also told USA Today it 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 will decide which stores to close after "a careful analysis" of how those stores are performing.

Last March, the retailer filed for Chapter 11 bankruptcy and kept all of its stores open. At that time, the company said it had acquired $132 million in new funding, which it planned to use to reduce its debt by approximately $505 million.

Sales at Joann had slumped after a jump during the pandemic, when Americans were isolated in their homes and spent more money on sewing and craft supplies. Due to the subsequent inflation, many people had to cut back on their discretionary spending.

The news comes as other major retailers have announced closures as well, with Kohl's notably announcing closures last month.