It's funny that if you go to Investor Relations on the Joann's site it mentions nothing about stores closing or going out of business.
http://www.joann.com/joann/about_joa..._investors.jsp
Our Joann's is a small one and it recently was updated and is getting in new merchandise all the time.
All of their fabric is not bad. It's like all fabric stores, you have to know what you're buying and the quality that you are looking for.
I think we should really do our due dilligence and investigate before buying into rumors. Some stores may be closing in some areas but that certainly does not mean all.