Joann Fabrics In BurlCo Among 500 Locations Set To Close

MOUNT LAUREL, NJ — The Joann Fabrics store in Mount Laurel is among 500 locations that will permanently close after the craft retailer declared bankruptcy for the second time in a year, according to reports.

The company hasn't released a specific list of the stores closing. But court filings show more than half of the 800 Joann Fabrics stores will shut down, according to CNN.

Six New Jersey locations will close, including stores in Deptford and Mount Laurel, according to a list released by NEXTAR.

That would leave Cherry Hill with the only Joann Fabrics in the region.

It's unclear when the closures might happen.

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."

Last March, Joann filed for Chapter 11 bankruptcy and kept all 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.

The chain filed for bankruptcy again last month.

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. Because of the subsequent inflation, many people had to cut back on their discretionary spending.

Mount Laurel's store is located in the Centerton Square Shopping Center on 66 Centerton Rd.

With reporting from Megan VerHelst/Patch.