Who Owns Joann?

Joann no longer operates as a retailer and does not have brand-specific sustainability initiatives. The following information describes the company's sustainability activities during its operational years.

Joann did not hold independently verified sustainability certifications from third-party bodies. The company's sustainability efforts were limited to internal initiatives without external verification.

During its operational years, Joann offered some eco-friendly and organic fabric options. The company promoted fabric scrap utilization and offered educational programs about reducing material waste in crafting projects. Joann stores hosted in-store classes, workshops, and educational programs promoting crafting skills.

Joann faced criticism during the COVID-19 pandemic for keeping stores open as an 'essential business' while refusing to provide paid sick leave for employees affected by COVID-19. Michigan Governor Gretchen Whitmer forced Joann stores to close after the company requested exemption from stay-at-home orders.

The company employed thousands of people across hundreds of retail locations. The liquidation in 2025 resulted in significant job losses. The human cost of the company's collapse affected workers across hundreds of communities.

Joann achieved significant milestones during its 82-year history as a fabric and craft supplies retailer.

• Market Leadership: Joann was the leading fabric and craft supplies retailer in the United States, operating over 800 stores across 49 states at its peak.
• IPO (March 16, 2021): Joann's initial public offering on NASDAQ under ticker JOAN priced shares at $12 each, raising approximately $424 million. The IPO recognized the company's growth and market position.
• COVID-19 Pandemic Turnaround (2020): Joann reported net income of $210.9 million to $212.9 million in fiscal 2020, a sharp turnaround from a $546.6 million loss the prior year, as consumers turned to crafting during lockdowns.
• Cultural Significance: As one of the oldest and largest fabric and craft retailers in American history, Joann served generations of sewers, quilters, knitters, and crafters for over 80 years. The company's stores served as community hubs for creative expression.
• Industry Influence: Joann set standards for the craft retail industry in inventory management, customer education, store layout, and product curation, influencing subsequent craft retailers.

COVID-19 Lockdown Controversy (2020): Joann received public criticism for keeping stores open during the COVID-19 pandemic, claiming its stores were 'essential businesses.' The company refused to provide paid sick leave for employees affected by COVID-19. Michigan Governor Gretchen Whitmer forced Joann stores to close after the company requested exemption from stay-at-home orders.

Mask Kit Materials Controversy (2020): Joann promoted free mask kits to help local hospitals during the pandemic. Media investigation revealed that most materials used in the kits were remnants typically sold at discount prices. Many hospitals rejected homemade masks and questioned the medical efficacy of the materials.

Pre-Pandemic Financial Losses (2019): Joann lost $546.6 million in fiscal 2019, revealing deep financial problems predating the pandemic. The company's high debt load from its 2010 leveraged buyout by Leonard Green & Partners proved unsustainable.

First Bankruptcy Filing (March 18, 2024): Joann filed for Chapter 11 bankruptcy protection, planning to cut over $500 million in debt and restructure into a privately held company. NASDAQ halted trading of JOAN stock on March 28, 2024, and formally delisted Joann on April 9, 2024.

Second Bankruptcy Filing (January 15, 2025): Less than a year after emerging from its first bankruptcy, Joann filed for Chapter 11 again, indicating the failure of its restructuring efforts. The case was filed in the U.S. Bankruptcy Court for the District of Delaware under Judge Craig T. Goldblatt (Case No. 25-10068).

Mass Store Closures (February 12, 2025): Joann announced the closure of 500 of its remaining 800 locations. California lost 61 locations, with more than 30 each closing in Florida, Michigan, Ohio, and Pennsylvania.

Complete Liquidation (February 24, 2025): After failing to find a buyer willing to continue operations, Joann announced it would liquidate all remaining stores. GA Group and Joann's term loan lenders won the auction for the company's assets. The last stores closed by May 30, 2025, ending 82 years of operation.

Employee Job Losses: The liquidation resulted in significant job losses for thousands of employees across hundreds of communities. Workers received limited severance and transition support.

Community Impact: Joann's closure left many communities, particularly in smaller markets, without access to comprehensive fabric and craft supplies. According to Numerator research, 80% of Joann customers surveyed were upset by the closures.