Joann, a prominent name in the crafting industry, is setting up significant discounts as it nears the closure of its stores by the end of this month. The retailer is conducting “going out of business” sales, featuring markdowns ranging from 50% to 80%, with certain exclusions and variability depending on the location.

Details of the Closing Sales

Customers can find various products deeply discounted, such as:

• 50% off on thread and yarn.
• Discounts of 50%-80% on home decor fabric and trims.

Purchases are restricted to physical stores, as online sales have been halted since early March.

Background on Joann’s Bankruptcy and Store Closures

The closing sales began in early March, approximately seven weeks following Joann’s Chapter 11 bankruptcy filing. This marks the second bankruptcy for the company within a year. The GA Group, along with its prepetition term loan agent, has taken ownership of most of Joann’s assets and is overseeing the wind-down of operations.

When filing for bankruptcy in January, Joann had around 800 locations in the U.S. Reports indicate that several hundred stores have since closed.

Final Days of Operation

The ongoing closing sales are expected to last until the end of May or until inventory is exhausted. Customers have expressed frustration over the company’s decision to stop accepting gift cards ahead of the closures.

Founded in 1943, Joann’s impending closure will conclude an 80-year presence in the crafting sector, marking a significant shift for both the company and its loyal customers.