Fabric and crafting store Joann Fabrics is set to close over half of its locations nationwide, including three in Bucks County, writes Mary Walrath-Holdridge for the Bucks County Courier Times.
The embattled retailer recently filed a court document listing “underperforming” stores it plans to close “immediately.” Among the 500 locations, 33 are in Pennsylvania.
Joann first filed for bankruptcy in March 2024, after being unable to secure roughly $132 million in new financing to help manage its $1 billion debt. The move allowed the company to survive by going private.
Following several store closures, the company was forced to file for Chapter 11 bankruptcy once again in January.
“Since becoming a private company in April, the Board and management team have continued to execute on top-and bottom-line initiatives to manage costs and drive value,” said Michael Prendergast, interim CEO of Joann. “However, the last several years have presented significant and lasting challenges in the retail environment, which, coupled with our current financial position and constrained inventory levels, forced us to take this step.”
The locations marked for closure in Bucks County include 320 Commerce Boulevard, Fairless Hills, 1465 W. Broad Street, Quakertown, and 397 Easton Road, Warrington.
Read more about Joann in the Bucks County Courier Times.
