Joann's Strategic Store Closures: What You Need to Know

Joann's Store Closures

Joann has recently announced the closure of several store locations across the United States. According to Amanda Hayes, Joann’s director of corporate communications, these closures are part of a routine evaluation and optimization of store locations.

Courtesy of Joann

Recent Closures

The retailer confirmed six store closures, including locations in Holyoke, Massachusetts, and Ithaca, New York. Local news sources have also reported additional closures in Hermitage, Pennsylvania, and Cockeysville, Maryland.

Store Closure Details

| State | City | |-------------|---------------| | Iowa | Burlington | | Maryland | Owings Mills | | Maryland | Cockeysville | | Massachusetts| Holyoke | | New York | Ithaca | | North Carolina| Hickory | | Pennsylvania | Hermitage | | Pennsylvania | Williamsport |

Company Background

Joann filed for Chapter 11 bankruptcy in March 2024 and is now a privately held company owned by its creditors. At that time, Joann had 815 stores, with 96% of them profitable. The company has since appointed new executives, including interim CEO Michael Prendergast.

Despite the closures, Joann has also opened new and remodeled locations, including stores in Great Falls, MT, and Maplewood, MN. Currently, Joann operates around 850 stores in 49 states.

Market Challenges

In November, it was reported that Joann was asking vendors for rebates and discounts to navigate financial challenges. The company has stated that vendors have shown support and were fully compensated following its bankruptcy.