Rumored?

Thread Tools
 
Old 03-11-2024, 04:42 AM
  #1  
Senior Member
Thread Starter
 
Join Date: May 2010
Location: SW, MI
Posts: 827
Default Rumored?

Word is going around that JoAnn's filed bankruptcy and will be closing soon. I sure hope this is not true. JoAnn's is our last sheriff in town and we will have to travel and hour an more for fabric!
cindyb is offline  
Old 03-11-2024, 05:01 AM
  #2  
Super Member
 
aashley333's Avatar
 
Join Date: Oct 2019
Location: Corpus Christi, Texas
Posts: 1,817
Default

not in corpus
aashley333 is offline  
Old 03-11-2024, 05:17 AM
  #3  
Super Member
 
Join Date: Sep 2011
Location: Carroll, Iowa
Posts: 3,385
Default

I read that too and a friend of mine down in Orlando is losing their JoAnne's but that seems to be the only one in that area that is closing. Problem with that is it's her closest Viking Store also so she'll have to travel a distance to the one up in Altamonte Springs.

I'm lucky my Viking store is in a fabric store and not a JoAnne's store but still I have to travel 63 miles to get to it even.
Snooze2978 is offline  
Old 03-11-2024, 09:02 AM
  #4  
Super Member
 
ekuw's Avatar
 
Join Date: Aug 2014
Location: Carmichael, CA
Posts: 1,963
Default

From what I've read, they may file bankruptcy to help with their debt restructuring...may or may not mean stores actually close.
ekuw is offline  
Old 03-11-2024, 11:43 AM
  #5  
Super Member
 
Join Date: Jul 2013
Location: Houston, TX
Posts: 9,510
Default

Originally Posted by ekuw View Post
From what I've read, they may file bankruptcy to help with their debt restructuring...may or may not mean stores actually close.
True. Depending on what type of bankruptcy they have filed, they may continue operating and just have to restructure. Some stores may close. I just did a quick search and it looks like they are filing chapter 11 bankruptcy which means they can continue to operate, there will just be restrictions such as closing stores that are under performing.
cashs_mom is offline  
Old 03-12-2024, 02:40 AM
  #6  
Super Member
 
WMUTeach's Avatar
 
Join Date: Dec 2010
Location: Portage, Michigan
Posts: 7,382
Default

I just did some searching for any solid information about a bankruptcy and all articles, news, and so on say "may file for chapter 11 bankruptcy". As cashs_mom said, filing is not closing. All it means is the company needs to restructure the business to clear deb and to return to financial stability. Will stores close? Perhaps some less viable sites or where there are multiple stores in close proximity, but it is not an end to the business. Continue to shop, then listen and watch for changes in the business.
WMUTeach is offline  
Old 03-12-2024, 05:09 AM
  #7  
Super Member
 
Join Date: Nov 2010
Posts: 1,532
Default

The JoAnn's in my area is like a ghost town, there is hardly anyone in the store when I go. Recently they had batting on sale but didn't have what I wanted in stock. So I ordered it online, I ordered 6 yards....it arrived in a big box, but they cut 6, one yard pieces. I called JoAnn's customer service and was told to send it back. They didn't offer to send me one 6 yard piece of batting.
rjwilder is offline  
Old 03-12-2024, 07:57 AM
  #8  
Power Poster
 
Join Date: Jan 2011
Location: Southern USA
Posts: 15,942
Default

Long story but I won't shop at Joann. I ordered online and the item was defective. The email reply was to take the item to the nearest store or return by mail at my cost. The local Joann manager would not take the item back because I bought it online. I showed her the email and she said no she wouldn't do it at her store as it would affect her bonus and drop her profits if she took back all online orders. It took over six months to get my refund. I really don't care if that Joann closes, that manager is still there.
Onebyone is offline  
Old 03-13-2024, 04:06 AM
  #9  
Super Member
 
WMUTeach's Avatar
 
Join Date: Dec 2010
Location: Portage, Michigan
Posts: 7,382
Default

It saddens me that you had such a crummy experience with JoAnn's and batting. I have twice now ordered W&N by the roll when it was on sale at JA and had perfect service, quick free delivery I used a coupon to reduce the price. I will order again as soon as I have room for another BIG box.

My store is busy, cleaner now that in years past and pretty consistent sales folks. I have seen the same faces for long spans of time like 4 or more years. I would like more fabric and less fleece but I see the same thing in one of my local quilt shops too. My one complaint is the music! Yikes some of it is not appropriate for a business but that is my bug-a-boo and I just get on with my shopping and get out.
WMUTeach is offline  
Old 03-13-2024, 05:06 AM
  #10  
Power Poster
 
Join Date: Nov 2009
Location: Mableton, GA
Posts: 11,199
Default

https://finance.yahoo.com/news/craft...ycsrp_catchall
Stitchnripper is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



FREE Quilting Newsletter