JoAnn’s at the Chautauqua Mall in Lakewood (Google Maps)
Craft retailer, JoAnn’s, is closing hundreds of stores including the store located in Lakewood.
Less than a month after filing for Chapter 11 bankruptcy protection for the second time in a year, JoAnn is preparing to close more than 500 stores.
In a recent court filing, the retailer blamed higher costs from shipping overseas products, as well as waning consumer demand. They listed roughly 530 “underperforming” stores across more than 40 states that it would like to “immediately” begin closing. When the company filed for bankruptcy protection in January, it originally planned to keep all of its roughly 800 stores open throughout the process.
Even more stores could close as the bankruptcy process continues, the company warned.
Going-out-of-business sales are expected to start on Saturday and could continue for several months, JoAnn said. Gift cards are still being accepted for in-store purchases, but not online shopping.
No timetable has been released for when JoAnn stores will start closing.
The link for the store closure list can be found here: https://cdn.prod.website-files.com/67817680c8de2134544a40b6/67acb1fd7e85b6e6bb57cfe4_Store%20Closure%20List.pdf
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