JOANN

Joann, the fabrics and crafts retailer that has supplied quilters, seamstresses and school projects for 80 years, announced in February 2025 that it would close down all of its stores in the latest chapter of financial tumult for the company. The company’s assets were auctioned off about a month after Joann filed for Chapter 11 bankruptcy for the second time in less than a year. The winning bidder in the auction, the financial services company GA Group, along with a lender, acquired “substantially all of JOANN’s assets,” according to a news release from Joann. GA Group plans to wind down the company’s operations and conduct going-out-of-business sales at all stores, pending bankruptcy court approval. Joann, which was previously called Jo-Ann Fabrics, is based in Hudson, Ohio.