Joann

Joann, the well-known craft retailer, has announced plans to shut down all of its stores following its bankruptcy filing, abandoning an earlier strategy to keep some locations open. The company will be sold to the highest bidder, GA Group, which has confirmed that going-out-of-business sales will soon begin across all outlets, Reuters reported. Joann, which…

Fabric and craft retailer Joann is set to shut down 500 of its 800 stores across the United States in the coming months as it moves through the bankruptcy process. In a statement, the company described the decision as a necessary step to stabilize its operations. “Right-sizing our store footprint is a critical part of…