Joann Inc.

Is Joann still in business?
Yes, Joann continues to operate, but the company is undergoing significant restructuring following its second Chapter 11 bankruptcy filing in January 2025. GA Group acquired substantially all of JOANN's assets, with the bankruptcy plan confirmed on July 10, 2025. More than half of approximately 850 stores are scheduled for closure, with going-out-of-business sales at closing locations.

Is Joann publicly traded?
No, Joann is no longer publicly traded. The company went private after its first Chapter 11 bankruptcy in March 2024. It was previously listed on NASDAQ under the ticker symbol JOAN from its IPO in March 2021 until the first bankruptcy. Following the second bankruptcy in January 2025, GA Group acquired substantially all of JOANN's assets.

Can I still shop online at Joann?
JOANN.com and the Joann mobile app remain available for browsing, but purchases must be made in-store at closing locations during going-out-of-business sales. This restriction has been in place since the second bankruptcy filing in January 2025.

How many Joann stores are closing?
Joann plans to close more than half of its approximately 850 stores. In Washington state alone, 21 of 30 locations are scheduled for closure. Going-out-of-business sales are being conducted at all closing locations.

Who owns Joann now?
GA Group, a financial services firm, was selected as the winning bidder to acquire substantially all of JOANN's assets. The bankruptcy plan was confirmed on July 10, 2025, with an effective date of July 16, 2025. The Chapter 11 case (Case No. 25-10068 (CTG)) remains open as of October 10, 2025.

When was Joann founded?
Joann was founded in 1943 in Cleveland, Ohio, originally as a single fabric shop. The company has grown over 80-plus years to become one of the largest fabric and craft supplies retailers in the United States.

Joann was founded in 1943 in Cleveland, Ohio, originally as a single fabric shop. The company was established by Bertha Hausfeld and Anna Hilt, who saw an opportunity to provide quality fabric to Cleveland-area households during World War II. The store was originally called the Cleveland Fabric Shop.

The company expanded steadily through the decades, growing from a single location to a regional chain and eventually a national retailer. In the 1990s, the company was acquired by private equity firm Leonard Green & Partners. The chain was renamed Jo-Ann Fabric and Craft Stores, later rebranding to simply Joann in 2018 to reflect its broader product range beyond fabric.

Joann went public on NASDAQ in March 2021 under the ticker symbol JOAN, raising approximately $131 million in its IPO. The IPO priced shares at $12, below the expected range of $15 to $17, signaling investor caution about the crafting retail sector.

The company faced declining sales and increasing competition from online retailers including Amazon and Etsy. In March 2024, Joann filed for Chapter 11 bankruptcy for the first time. The company emerged from bankruptcy in April 2024 as a private company, having eliminated approximately $505 million in debt. All 815 stores remained open at that time, and the restructuring was completed in less than 40 days.

The reprieve was short-lived. On January 15, 2025, Joann filed for Chapter 11 bankruptcy a second time. The company cited continued financial challenges, including declining sales, increased competition, and the failure of its first restructuring to address underlying business issues. GA Group was selected as the winning bidder to acquire substantially all of JOANN's assets. The Second Amended Joint Chapter 11 Plan was confirmed on July 10, 2025, with an effective date of July 16, 2025.

The second bankruptcy resulted in significant store closures. The company plans to close more than half of its approximately 850 stores, including 21 of 30 locations in Washington state alone. Going-out-of-business sales are being conducted at all closing locations.

Joann's two bankruptcy filings within less than two years have drawn significant public and regulatory attention. The first bankruptcy in March 2024 eliminated $505 million in debt but failed to address the company's underlying business challenges, leading to the second filing in January 2025.

The decision to close more than half of approximately 850 stores has affected thousands of employees and communities across the United States. In Washington state alone, 21 of 30 locations are scheduled for closure. Going-out-of-business sales at closing locations have drawn scrutiny from consumer protection advocates concerned about sale practices and return policies during liquidation.

The restriction of online purchases to in-store transactions at closing locations has also generated customer frustration and criticism. JOANN.com and the mobile app remain available for browsing, but customers must complete purchases in-store, which has been interpreted as a strategy to maximize liquidation sale revenue at closing locations.

The Chapter 11 case remains open as of October 10, 2025, as the company continues to work through the complexities of the restructuring and store closure process.