Are you wondering whether Joann Fabrics is going out of business? This well-known fabric retailer has been a staple for crafters and DIY enthusiasts for decades. In this article, we will explore the history of Joann Fabrics, discuss its current status, and answer the burning question: Is Joann Fabrics going out of business?
History of Joann Fabrics:
Joann Fabrics was established in 1943 by German immigrants Hilda and Berthold Reich and Sigmund and Mathilda Rohrbach. Initially named Cleveland Fabric Shop, the store focused on selling fabric for home decor. Over the years, the business expanded and added more items to its inventory, including fabrics for apparel, crafting supplies, and sewing accessories. Today, Joann Fabrics operates over 800 stores across the United States, making it the leading fabric and craft retailer in the country.
Is Joann Fabrics Going Out of Business?
So, is Joann Fabrics going out of business? The short answer is no. While many brick and mortar retail stores have faced closures due to the rapid growth of e-commerce and the COVID-19 pandemic, Joann Fabrics has managed to stay afloat. The company has capitalized on the increased interest in DIY projects and crafts during the pandemic, leading to a surge in sales both in stores and online.
Who Owns Joann Fabrics?
Joann Fabrics is a privately held company, owned by Leonard Green & Partners, a private equity firm based in Los Angeles. The firm acquired Joann Fabrics in 2011 and has since overseen the company’s growth and expansion. Under Leonard Green & Partners’ ownership, Joann Fabrics has focused on enhancing its in-store experience, offering more workshops and classes, and expanding its online presence.
Current Status of Joann Fabrics:
As of February 17, 2025, Joann Fabrics is undergoing significant restructuring due to financial challenges. The company filed for Chapter 11 bankruptcy protection for the second time in January 2025, following a previous filing in March 2024. In an effort to stabilize its operations, Joann announced plans to close approximately 500 of its 800 stores nationwide. These closures are set to occur over the next few months, with some locations potentially closing sooner. Despite these changes, Joann’s remaining stores and online platform continue to serve customers. The company is also seeking a buyer to maximize its business value, with Gordon Brothers Retail Partners, LLC acting as the initial bidder.
What’s Special About the Company?
Joann Fabrics is known for its vast selection of fabrics, sewing supplies, and craft materials. The company’s commitment to offering high-quality products at competitive prices has made it a favorite among hobbyists and professionals alike. Joann Fabrics also provides in-store classes and tutorials, fostering a sense of community and encouraging creativity among its customers.
The company has a strong online presence, as well. Their website is easy to navigate, offers a wide variety of products, and has an extensive library of tutorials and project ideas. This combination of physical and digital resources sets Joann Fabrics apart from other fabric and craft stores, making it a one-stop-shop for all things creative.
Alternatives to Joann Fabrics:
Although Joann Fabrics has a special place in the hearts of many, it’s always good to have alternatives. Here are some other fabric and craft stores that offer similar products and services:
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Michaels:
This popular craft store chain offers a wide variety of art supplies, home décor items, and crafting materials. They also provide in-store classes and workshops, making it a great alternative to Joann Fabrics.
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Hobby Lobby:
Another well-known craft store, Hobby Lobby offers a vast selection of fabrics, craft supplies, and home décor items. They also have an extensive online store, allowing customers to shop from the comfort of their homes.
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Fabric.com:
As a purely online fabric store, Fabric.com offers a massive selection of fabrics at competitive prices. With an easy-to-use website and excellent customer service, it’s a great alternative for those who prefer to shop online.
Impact of Joann Fabrics on Customers:
Joann Fabrics has had a profound impact on its customers over the years. The store has become a hub for creativity, offering not only materials but also inspiration and support for various projects. Customers can find everything they need for sewing, quilting, and crafting, making the process of creating items more enjoyable and efficient.
The company’s emphasis on community-building through in-store classes and workshops has also played a significant role in the lives of its customers. These events provide an opportunity for like-minded individuals to connect, share ideas, and learn from one another, fostering a sense of camaraderie and belonging.
Future Plans of Joann Fabrics:
Despite facing challenges in the ever-changing retail landscape, Joann Fabrics has shown resilience and adaptability. The company has made strides in expanding its online presence and enhancing its digital offerings. They have also continued to invest in their brick-and-mortar stores, remodeling locations to create a more engaging and enjoyable shopping experience.
Joann Fabrics is also committed to sustainability, as evidenced by their partnership with TerraCycle, a recycling program that allows customers to recycle used crafting materials. By focusing on both innovation and environmental responsibility, Joann Fabrics demonstrates its commitment to staying relevant and successful in the long run.
Conclusion:
So, is Joann Fabrics going out of business? At this time, there is no indication that the company is on the brink of closing its doors. In fact, Joann Fabrics seems to be adapting to the changing retail landscape and evolving to meet the needs of its customers. While it’s essential to be aware of alternatives in the market, loyal Joann Fabrics shoppers can rest assured that their favorite store is here to stay for the foreseeable future.
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