Joann, the popular fabric and quilting supply retailer, has announced it will close all of its 800 stores nationwide, including every location in South Florida. Initially, the company planned to close only half of its stores but later opted for a complete shutdown due to unsuccessful competition against rivals like Michaels and Hobby Lobby. Joann filed for Chapter 11 bankruptcy protection twice within a year, indicating deeper financial struggles. The company aims to minimize the impact of liquidations on stakeholders as it winds down operations.
Joann, the fabric and crafting supply retailer, announced it would close all of its 800 stores, including its well-known locations in South Florida.
After facing severe competition from rivals like Michaels and Hobby Lobby, Joann's business has struggled, leading to its second Chapter 11 bankruptcy filing this year.
The commitment expressed by Joann to work constructively with the winning bidder focuses on reducing the impact of the closure on stakeholders during liquidation.
With over 80 years in the market, Joann has been a staple in South Florida, cherished by the local community and maintaining notable retail footprints.
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