Closure of Joann Stores
Joann, a major national retailer of fabric and craft supplies, is going out of business and closing all its roughly 800 stores across the U.S. due to financial struggles and losing market share to online and brick-and-mortar competitors.
Key Points
- Joann, a long-standing retailer, is closing all its stores in the U.S.
- Financial struggles and competition led to the decision.
- Liquidation sales are starting immediately.