Losing a beloved store that was right in town can be a tough blow.
Even if it’s a store you didn’t shop at all that often, it can be kind of depressing to see a closure sign in the window. And if it’s a store you did shop at regularly, it can be frustrating to have to find a new source for whatever it is you used to buy.
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In January 2025, fabrics giant Joann filed for bankruptcy for the second time. Its first filing happened less than a year earlier.
The company’s second bankruptcy filing came at a time when the company was experiencing not just a decline in sales, but challenges getting its hands on inventory.
The latter especially didn’t bode well. And it soon became obvious that Joann was not going to manage to stay operational following its second Chapter 11 filing.
Joann makes painful store-closing decision
When a company files for Chapter 11 — even if it files twice — it’s not a given that it will go out of business completely.
Joann initially thought it would shutter some of its stores while leaving some open to welcome in customers. But a few months following its second Chapter 11, the company made an announcement that shook fans to the core — it would be closing its nearly 800 stores and putting its leases up for grabs.
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The silver lining was that following the announcement, crafting enthusiasts were able to scoop up Joann’s inventory at a discount as stores held liquidation sales.
The bad news, of course, is that at this point, Joann has ceased to exist as fans know it. With the company’s final stores closing in May, it was a sad goodbye all around.
Customers who once relied on Joann for their crafting needs will have to take their business elsewhere.
One Joann store location gets interesting new owner
When stores close, it’s not a given that another retailer will come in and scoop up that space.
In Glendale, Calif., one of Joann’s larger store locations is being taken over by the city itself. And now, it’s becoming a public park.
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The S. Central Ave location, which spanned almost 34,000 square feet, shuttered in May after serving as a major retail location in the area for many years. Given its prime location, there was lots of competition for that empty space.
Ultimately, the city of Glendale was able to beat out other retail chains to acquire the space. And now, the city intends to use the space as a park – something the area sorely needs.
The city wound up paying $24 million for the purchase. It scrounged up the money through a variety of sources, including capital improvement funds and grants.
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The store location was particularly desirable for the city not just due to its size, but the fact that it’s surrounded by a lot of dense housing and several malls.
Meanwhile, fans of Joann who miss having a store in Glendale aren’t completely out of luck. In light of Joann’s bankruptcy, crafting giant Michaels has stepped up to the plate by increasing its fabrics offerings.
With its own prime location in Glendale, Michaels could gain many of the customers who were left disappointed by Joann’s closure.
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