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Thread: JOANNS IS SELLING TO J. CREW

  1. #1
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    Perhaps we will see more and better quality quilt fabs at decent prices...we can only hope.

    Story StatsJo-Ann Stores being taken private for $1.6 billion



    HUDSON, Ohio—Fabric and craft store chain Jo-Ann Stores Inc. is being taken private by investment firm Leonard Green & Partners LP for about $1.6 billion, the latest in a series of billion-dollar retail buyouts.
    The deal is the latest in a series of billion-dollar retail buyouts in the past three months. Last month preppy fashion retailer J. Crew Group Inc. agreed to be purchased for $3 billion in a deal that also involves Leonard Green & Partners, along with private equity firm TPG Capital.

  2. #2
    Super Member AlwaysQuilting's Avatar
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    Quote Originally Posted by Lady Diana
    Perhaps we will see more and better quality quilt fabs at decent prices...we can only hope.
    I hope so too.

  3. #3
    Super Member C.Cal Quilt Girl's Avatar
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    Two threads going about this. LOL

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    oops, sorry. did not see the other thread.
    Diana in TX

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    Power Poster Lacelady's Avatar
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    It would be nice if they decided to ship overseas.

  6. #6
    Super Member Rebecca VLQ's Avatar
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    The title is a misnomer....the company that bought J.Crew also bought Joanne's...

  7. #7
    Power Poster amma's Avatar
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    I am going to be very optimistic about this news :D:D:D

  8. #8
    Power Poster CarrieAnne's Avatar
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    Yes, hopefully it will be a good thing!

  9. #9
    Super Member omak's Avatar
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    which country owns the buyer?

  10. #10
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    Leonard Green & Partners is an American private equity fund. They are investors so it will be interesting to see who runs Joann's.

  11. #11

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    It would be fantastic if the new buyers would replace some of the multi craft items with more fabric and that quilters and sewers, tailors, that would be more intune with our and their needs. What do you think?

  12. #12
    Super Member Chigger Holler Quilter's Avatar
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    Quote Originally Posted by Connie Merritt
    It would be fantastic if the new buyers would replace some of the multi craft items with more fabric and that quilters and sewers, tailors, that would be more intune with our and their needs. What do you think?
    We can only hope! Right? Maybe we can communicate that in some way?

  13. #13
    Super Member maryel's Avatar
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    Heard the news today on MSNBC. And I too hope for the best.

  14. #14
    Senior Member Hosta's Avatar
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    Oh No this is sad news it never fails when a business is taken over there are job losses and price increases. Their headquarters is near where I live and employs a lot of people I hope they don't let go to many.

  15. #15
    Senior Member quilter41's Avatar
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    Not sure this is good news. I bet there are closings and lots of changes.

  16. #16
    Super Member AlwaysQuilting's Avatar
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    I hope they don't make the same changes that Hancocks did before they closed.
    They brought in more and more "stuff" (like Pier One) and less fabrics. 1/2 the store was non-sewing items.
    Joann's already has too many non-sewing aisles, IMO.

  17. #17
    thismomquilts's Avatar
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    If this is true I hope it only betters Joanns. No reason to not have other craft supplies in the stores - I mean we all have to shop somewhere. If a store gets too centered on one type of customer it might not be too good for that one type. Just hope the prices don't increase and the service gets better.

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