February 13th 2025.
In the upcoming months, the popular fabrics and crafts retail chain, Joann, will be closing a significant number of its stores in the United States. To be specific, over half of its 800 locations will be shut down. This decision comes as Joann deals with financial struggles and bankruptcy, causing them to reevaluate their store strategy.
A spokesperson for Joann shared that this was a tough call to make, as they are aware of the impact it will have on their team members, customers, and the communities they serve. They explained that downsizing their store presence is a crucial step in their efforts to move forward in the best way possible.
As of now, Joann has not released a list of the specific stores that will be closing. However, according to court documents, it is confirmed that stores in every state will be affected, with the highest number of closures in California, Florida, Indiana, Michigan, New York, Pennsylvania, and Washington.
This news comes amidst Coresight Research's projection that there will be a significant increase in store closures this year compared to previous years. In fact, it is estimated to be double the number of closures in 2024. It is evident that Joann's decision is a reflection of the current retail landscape and the challenges that businesses face in this competitive market.
Despite the difficult situation, Joann remains committed to providing their customers with quality products and services. They are grateful for the support of their loyal customers and are determined to come out stronger from this setback.
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