Joann Fabrics and Crafts will close all of its stores, including 24 in Wisconsin, after filing for bankruptcy in March 2024. The company couldn’t find a buyer after announcing plans to close 500 of its 800 stores nationwide.
Wisconsin crafters are now faced with an imminent farewell to a familiar source for their crafting needs. According to a report by the Milwaukee Journal Sentinel, going-out-of-business sales have already commenced at the Wisconsin locations. Shoppers will have the opportunity to visit for potentially the last time and possibly snag some deals as the stores liquidate their stock.
Over in Ashwaubenon, the 2777 S. Oneida St. store location, which was initially spared in the first round of closures, will join its counterparts in closing down. The Green Bay Press-Gazette shared that GA Group, along with the Prepetition Term Loan Agent, has emerged as the winning bidder to acquire Joann's assets. With court approval, the company will proceed with winding down operations.
Emphasizing the gravity of the situation, Joann released a statement explaining the exhaustive efforts made to avert complete closure: "JOANN leadership, our Board, advisors, and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business." Country Living reports that commencing the sale process at all stores will begin immediately, subject to the court's approval of the sale transaction. Joann's website has posted an FAQ section to answer customer questions about the closures and sales.
