'I'm Gutted': Joann, an 80-Year-Old Crafts and Fabrics Store, Will Soon Close All 800 of Its Locations

Craft and fabrics retailer Joann, which has been successful business for the past 80 years, announced it is closing each 800 of its stores successful 49 states and going retired of business pursuing a play of financial turmoil and debased sales.

The institution has 19,000 employees, 15,600 of whom are part-time.

Joann revenge for bankruptcy successful March 2024, going from a publically traded institution to a backstage 1 while reporting betwixt $1 cardinal and $10 cardinal successful debt. The institution revenge for bankruptcy again earlier this year, past stated that it would adjacent 500 of its locations and support astir 300 unfastened arsenic it tried, and failed, to find a purchaser to support it successful business.

Assets were auctioned disconnected connected Friday. According to a news release, the financial services patient GA Group was selected arsenic the winning bidder. As portion of the agreement, GA Group will shutter the company's operations, choosing to unopen the doors of each 800 Joann stores.

Related: Macy's Just Released the List of 66 Stores Closing This Year — Here's Where

"Joann leadership, our Board, advisors and ineligible partners made each imaginable effort to prosecute a much favorable result that would support the institution successful business," the connection read. "We are committed to moving constructively pinch the winning bidder to guarantee an orderly wind-down of operations that minimizes the effect connected each our stakeholders."

Joann stated that going-out-of-business income would commencement instantly astatine each locations and online, pinch the timeline for shop closings still unclear. According to the company's customer FAQ, shop closure dates will beryllium disclosed "as soon arsenic possible" and the institution expects to return "a number of weeks" to complete its last sales.

A Joann shop successful Miami, Florida. Photo by Joe Raedle/Getty Images

Crafters and designers took to X to definitive their sadness that Joann was closing.

"Joann is the logic I was capable to person a mini portion of my life beryllium that of a designer/maker," 1 X personification wrote. "It was the only accessible cloth shop for millions of people. I'm gutted."

Another X personification wrote that it was "a acheronian time for crafters" while yet different stated that "the world is emotion progressively devoid of inspiration and community."

Sewist Julie Muniz presented a different take, writing connected LinkedIn that shopping astatine Joann was "more of a basal evil than an inspiring experience" and that "relying excessively heavy connected a niche marketplace and not heavy capable connected customer loyalty and acquisition does not bode good for a lasting legacy."

Joann is the logic I was capable to person a mini portion of my life beryllium that of a designer/maker. It was the only accessible cloth shop for millions of people. I'm gutted. https://t.co/fdjzHwd4bk

Okay but Joann Fabrics yet biting the slug is ace sad news. It's a acheronian time for crafters being successful the mediate of a task and being capable to tally to the shop for a speedy item.?

I'm truthful sad Joann's Fabric is closing. I dislike this online unit world wherever you can't spell look astatine and touch fabrics to get inspired to create, and you can't meet strangers who stock your interests successful stores. The world is emotion progressively devoid of inspiration and community

Joann was established successful 1943 arsenic the Cleveland Fabric Shop. It began calling itself Jo-Ann Fabrics successful the 1960s, past yet Joann successful March 2018.

Joann isn't the only shop to precocious unopen its doors. Kmart closed its past full-sized U.S. store successful October while Sears shut down its past New York location successful January, bringing its full number of stores successful the U.S. down to conscionable a dozen.

Related: A Historic Cheese Shop successful New York's Little Italy Is Closing After 130 Years successful Business