JoAnn Fabrics files for Chapter 11 bankruptcy for the second time in a year
02-12-2025, 06:30 PM
#43
Senior Member
Join Date: Jul 2010
Posts: 859
I am disappointed. They are shutting down 19 stores in Mass. They are only leaving 1 open. The one minutes away from me is one of the closing stores. I haven't been going often, but it was definitely my go to for rulers, stabilizers and fabric.
Our nearest JoAnn's is having their going out of business sale on Saturday. That leaves us with just Hobby Lobby. Sad day.
02-13-2025, 08:36 AM
#45
Super Member
Join Date: Jul 2008
Location: Keller, TX
Posts: 1,977
Joann
My last visit, I got a gen Xer to cut my fabric. She had never sewn in her life she said.
I was purchasing a panel. It was wound in the bolt crooked, so it required opening up the panel to cut one layer.
The girl insisted on cutting EXACTLY on the edge of the panel with it folded. I yelled stop.
I told her if she cut it, it would cut off a large wedge of the panel underneath. She didnt get it, and proceeded to start cutting. I said stop again and asked for a manager.
the manager told her to open the panel. She said to the manager, " you told me to cut exactly on the line".....
Well, she did cut correctly. Next I asked for one yard of fabric. She took the edge and stretched it about four inches beyond the proper one yard and cut it.
I didn't say anything. Then I took the cut fabric and laid it in the ruler attached to the table and asked her if that looked like 36 inches to her.....it was 32.
her response, oh well, it is close enough. THAT'S IT! I told her to take that purchase off my ticket I was not buying it. She said I cant do that, it's already been cut.
Up to customer service. The manager fixed the problem, took off the charge and said the girl was new. I said here's some advice, don't ever hire someone who has never sewn in her life.
I never went back.
I was purchasing a panel. It was wound in the bolt crooked, so it required opening up the panel to cut one layer.
The girl insisted on cutting EXACTLY on the edge of the panel with it folded. I yelled stop.
I told her if she cut it, it would cut off a large wedge of the panel underneath. She didnt get it, and proceeded to start cutting. I said stop again and asked for a manager.
the manager told her to open the panel. She said to the manager, " you told me to cut exactly on the line".....
Well, she did cut correctly. Next I asked for one yard of fabric. She took the edge and stretched it about four inches beyond the proper one yard and cut it.
I didn't say anything. Then I took the cut fabric and laid it in the ruler attached to the table and asked her if that looked like 36 inches to her.....it was 32.
her response, oh well, it is close enough. THAT'S IT! I told her to take that purchase off my ticket I was not buying it. She said I cant do that, it's already been cut.
Up to customer service. The manager fixed the problem, took off the charge and said the girl was new. I said here's some advice, don't ever hire someone who has never sewn in her life.
I never went back.
02-13-2025, 10:04 AM
#47
Super Member
Join Date: Mar 2010
Location: Anchorage, AK
Posts: 1,414
closure list
Just this morning I saw a list that had been put out - all the stores that will be closing in the near future....sadly one is in my town and next closest is 3 hours away...the big town store is closing and the smaller town store is staying open! 61 stores in California are closing!
02-14-2025, 05:26 AM
#48
Super Member
Thread Starter
Join Date: Jan 2013
Posts: 1,163
For anyone wishing to follow the bankruptcy docket, here's the link on JoAnn's site. If you follow the link there to Case Information, you can subscribe to docket updates.
Note in the original filing (found via Customer FAQ on the JoAnn site):
This explains that if there is no other bidder and/or Gordon Brothers is the ultimate buyer, all stores will close.
In the meantime, the hearing on the closure of the 500 stores is today (Feb, 14, 2025) and if approved, Going Out of Business sales will commence at those stores starting tomorrow (Feb. 15, 2025)
If you have a JoAnn gift card, it will currently only be accepted in-store. It cannot be used online unless something in the bankruptcy proceedings changes those policies (which could include them not being accepted in store.)
Note in the original filing (found via Customer FAQ on the JoAnn site):
1. What did JOANN announce?
• On January 15, JOANN announced that the Company has commenced voluntary Chapter 11 proceedings to facilitate a sale process to maximize the value of its business.
• The Company is seeking Court approval to commence a process for the sale of substantially all of its assets under section 363 of the Bankruptcy Code pursuant to which Gordon Brothers Retail Partners, LLC (“Gordon Brothers”) would serve as the “stalking horse” bidder.
• The proposed transaction is subject to higher and better offers, among other conditions.
• The Company continues to actively solicit alternate bids. If other qualified bids are submitted during the court-supervised sale processes, the Company plans to conduct an auction or auctions, with the stalking horse bid setting the floor for the auction processes.
• If the sale to Gordon Brothers is ultimately completed, Gordon Brothers has indicated that it intends to pursue a liquidation of the company and conduct going-out-of-business sales at all store locations.
• On February 12, JOANN filed a motion seeking court authority to begin closing approximately 500 stores across the nation. • Subject to court approval, we expect going-out-of-business sales will begin at impacted stores on Saturday, February 15, and could continue for several months.
• In the meantime, JOANN stores and JOANN.com are open in the ordinary course and continue to serve customers. Team Members are continuing to receive pay and benefits.
• On January 15, JOANN announced that the Company has commenced voluntary Chapter 11 proceedings to facilitate a sale process to maximize the value of its business.
• The Company is seeking Court approval to commence a process for the sale of substantially all of its assets under section 363 of the Bankruptcy Code pursuant to which Gordon Brothers Retail Partners, LLC (“Gordon Brothers”) would serve as the “stalking horse” bidder.
• The proposed transaction is subject to higher and better offers, among other conditions.
• The Company continues to actively solicit alternate bids. If other qualified bids are submitted during the court-supervised sale processes, the Company plans to conduct an auction or auctions, with the stalking horse bid setting the floor for the auction processes.
• If the sale to Gordon Brothers is ultimately completed, Gordon Brothers has indicated that it intends to pursue a liquidation of the company and conduct going-out-of-business sales at all store locations.
• On February 12, JOANN filed a motion seeking court authority to begin closing approximately 500 stores across the nation. • Subject to court approval, we expect going-out-of-business sales will begin at impacted stores on Saturday, February 15, and could continue for several months.
• In the meantime, JOANN stores and JOANN.com are open in the ordinary course and continue to serve customers. Team Members are continuing to receive pay and benefits.
This explains that if there is no other bidder and/or Gordon Brothers is the ultimate buyer, all stores will close.
In the meantime, the hearing on the closure of the 500 stores is today (Feb, 14, 2025) and if approved, Going Out of Business sales will commence at those stores starting tomorrow (Feb. 15, 2025)
If you have a JoAnn gift card, it will currently only be accepted in-store. It cannot be used online unless something in the bankruptcy proceedings changes those policies (which could include them not being accepted in store.)
Last edited by mkc; 02-14-2025 at 05:31 AM.
02-14-2025, 08:18 AM
#50
Super Member
Join Date: Oct 2008
Location: The Finger Lakes of upstate NY
Posts: 3,819
Their biggest problem, IMO, is that they tried to accommodate every possible craft and hobby. Woodworking, painting, cake decorating, paper crafts, crocheting/knitting, children's crafts, jewelry making, home decor, etc. It's too much inventory to keep in stock, and with the exception of the yarn, I rarely saw anyone in those aisles. They'd have been better off to focus on fabric and notions, and let the other things stay in Michaels and Hobby Lobby.
