News Summary
Joann Fabric stores in Massachusetts are set to close permanently as the company faces significant financial challenges and prepares for an auction to sell retail store leases. The impending closure affects 20 locations in the Bay State, with most expected to shut down by May 2025. The auction comes after a bankruptcy filing with debts between $1 billion and $10 billion. Customers are urged to take advantage of going-out-of-business sales while facing the disappointment of potential gift card invalidation.
Massachusetts Joann Fabric Stores Set to Close and Go to Auction
In a surprising turn of events, Joann Fabric stores in Massachusetts are gearing up for permanent closure and an upcoming auction. This decision comes as the company grapples with significant financial hurdles resulting in a bankruptcy filing. Out of the 20 locations across the Bay State, customers are facing the reality that their favorite fabric stores will soon be shuttered.
What’s Happening?
Joann Inc., well-known for its vast selection of fabric and crafting supplies, is set to auction off 790 retail store leases along with five distribution center leases after receiving the winning bid from the Great American Group LLC. The auction aims to address the company’s financial woes, with efforts led by Mike Matlat from A&G Real Estate Partners who is in charge of marketing the leases.
When Will the Stores Close?
Most Joann locations are projected to close by the end of May 2025. As part of the auction process, there’s a chance for some leases to be sold privately if significant offers pop up before the public auction date expected in early to mid-April 2025. This uncertainty leaves both employees and customers pondering the future of their go-to crafting haven.
Impacts of Bankruptcy
Joann’s bankruptcy journey hasn’t been pretty. With debts totaling anywhere from $1 billion to $10 billion, the company struggled to maintain momentum after an initial surge in sales driven by the pandemic. In a bid to recover, they previously announced plans to close a whopping 500 out of over 800 stores. It’s a challenging time, and as beloved fabric and crafting supplies become harder to come by, many loyal customers are left disheartened.
Goodbye, Joann: Locations Affected
For those in Massachusetts, here’s a not-so-great list of locations that will soon be closing their doors:
- 85 Highland Avenue, Seekonk
- 367 Russell St., Hadley
- 433 Center St., Ludlow
- 457 Dalton Ave., Pittsfield
- 100 Commercial Road, Leominster
- 1000 Boston Turnpike, Shrewsbury
- 91 Medway Road, Milford
- 244 Worcester Road, Natick
- 43 Middlesex Turnpike, Burlington
- 436 Broadway, Methuen
- 199 Boston Road, Billerica
- 174 Littleton Road, Westford
- 1073 Broadway, Saugus
- 232A South Main St., Middleton
- 96 Providence Highway, Walpole
- 1302 Washington St., Hanover
- 665 Iyannough Road, Hyannis
- 454 State Road, Dartmouth
- 1360 South Washington St., North Attleboro
- 300 New State Highway, Raynham
What About Gift Cards?
Unfortunately for customers holding onto Joann gift cards, they won’t find any use for them at the soon-to-close stores. As a part of the winding-down process, these gift cards will no longer be valid, adding another layer of disappointment for loyal buyers.
Things to Look Out For
In the coming weeks, all affected locations are expected to start going-out-of-business sales. This means shoppers can take advantage of deep discounts as stores clear out their inventory. It might be bittersweet for some, but it presents a real opportunity for many to snag some crafty deals before the doors close for good.
While it’s always tough to say goodbye to a familiar face in the neighborhood, this auction marks a new chapter for Joann Fabric as they navigate these complex financial waters. Stay tuned for updates as the auction date approaches and see what happens next for the beloved craft retailer.
Deeper Dive: News & Info About This Topic
- NBC Boston
- USA Today
- CBS News
- Fast Company
- Patch
- Wikipedia: Joann Fabrics
- Google Search: Joann Fabrics bankruptcy
- Google Scholar: Joann Fabrics
- Encyclopedia Britannica: Retail
- Google News: Joann Fabrics store closures
Author: STAFF HERE BOSTON WRITER
BOSTON STAFF WRITER The BOSTON STAFF WRITER represents the experienced team at HEREBoston.com, your go-to source for actionable local news and information in Boston, Suffolk County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Boston Marathon, Head of the Charles Regatta, and Boston Harborfest. Our coverage extends to key organizations like the Greater Boston Chamber of Commerce and Associated Industries of Massachusetts, plus leading businesses in finance, biotech, and insurance that power the local economy such as Fidelity Investments, Biogen, and Liberty Mutual Insurance. As part of the broader HERE network, we provide comprehensive, credible insights into Massachusetts's dynamic landscape.
