Joann begins store closing sales chainwide

In January, Joann filed for bankruptcy for the second time in one year.

Store closing sales are underway at all Joann locations as the retailer winds down operations after 82 years.

The fabric and crafts retailer has started discounts of up to 40% off across all store merchandise, including crafting, sewing and home decor products, at all 790 stores nationwide. The store closing process is being managed by GA Group, a leading asset disposition, valuation, appraisal, and real estate services firm, together with Tiger Group as part of a joint venture.

In January, Joann filed for bankruptcy, with plans to seek a buyer that would keep it in operation. It was the chain’s second filing in less than a year.

"Joann has been a beloved destination for makers and craft enthusiasts for more than 80 years," said Tim Shilling, president of retail, wholesale & industrial solutions at GA Group. "As we begin this store closing process, our priority is to ensure an orderly wind-down of the retailer's operations while providing customers with exceptional savings on their favorite crafting and home décor products. This sale is a great opportunity for shoppers to take advantage of these deep discounts before stores close."

All sales are final during the Joann store closing event. The sale is expected to last for approximately 12 weeks, until the end of May, or until supplies last. All furniture, fixtures, and equipment are also available for purchase. The retailer's intellectual property and leases will also be sold as part of this process.

"This sale represents an extraordinary chance for Joann loyal customers to find great deals on their favorite craft and home décor supplies," said Michael McGrail, principal at Tiger Group. "We encourage shoppers to visit early for the best selection."