Michigan Joann Fabrics Closing 33 Stores Amid Bankruptcy
In a significant development within the crafting and sewing industry, Joann Fabrics has announced the closure of 33 stores in Michigan. This follows its second bankruptcy filing within a year. This decision comes as part of a broader strategy to reduce the company’s footprint and address financial challenges.
The closures will have a profound impact on the local communities, employees, and loyal customers who have relied on Joann for their crafting supplies. This article delves into the details of the store closures, the reasons behind them, and the potential future of Joann Fabrics.
Table of Contents
The Financial Struggles of Joann Fabrics
Joann Fabrics, a well-known retailer in the crafting and sewing industry, has faced significant financial difficulties. This led to its second bankruptcy filing within a year. According to bankruptcy court documents, the company filed for bankruptcy in 2024 and again on January 15, 2025. The repeated financial distress has forced Joann to seek approval to sell its assets and find a potential buyer for the business.
Impact on Michigan Stores
The recent bankruptcy filing has led to the decision to close 33 Joann stores in Michigan. This move is part of a strategic effort to address the company’s financial woes and streamline operations. The closures will affect stores in various towns and cities across the state.
- Adrian: 2576 S. Main St.
- Allen Park: 23125 Outer Drive
- Alpena: 2686 US Highway 23 S
- Ann Arbor: 2897 Oak Valley Dr.
- Auburn Hills: 600 Brown Road
- Battle Creek: 5420 Beckley Road, Suite M
- Benton Harbor: 1800 M-139 Unit A
- Big Rapids: 1250 W. Perry Ave.
- Bloomfield Hills: 4107 Telegraph Road
- Brighton: 8449 W Grand River Ave.
- Burton: 4190 E Court St. Ste. 101
- Canton: 44740 Ford Road
- Chesterfield: 50809 Waterside Drive
- Essexville: 2950 Center Ave.
- Flint: G3603 Miller Road
- Fort Gratiot: 4405 24th Ave.
- Grandville: 3323 Century Center St. SW
- Grosse Pointe: 18850 Mack Ave.
- Holland: 12635 Felch St. Ste. 60
- Jackson: 1099 N. Wisner St.
- Lansing: 533 Mall Court
- Lapeer: 1865 W. Genesee St.
- Madison Heights: 32065 John R Road
- Midland: 1910 N. Saginaw Road
- Norton Shores: 5663 Harvey St.
- Novi: 43570 W. Oaks Dr. # B-3
- Petoskey: 1608 Anderson Road
- Rochester Hills: 2105 S. Rochester Road
- Roseville: 20550 E. 13 Mile Road
- Saginaw: 2920 Tittabawassee Road
- Shelby Township: 14367 Hall Road
- Taylor: 23877 Eureka Road
- Ypsilanti: 3737 Carpenter Road
Reasons Behind the Store Closures
The decision to close these stores was not made lightly. Joann Fabrics conducted a thorough analysis of store performance and future strategic fit for the company. The analysis revealed that 531 stores were underperforming, prompting the company to start closing sales and reduce its store footprint.
The goal is to focus on the more profitable locations and streamline operations to ensure long-term sustainability.
Seeking a Buyer for Joann Fabrics
During the most recent bankruptcy filing, Joann sought approval to sell its assets and find a buyer for the business. If no buyer emerges, the company has planned to allow Gordon Brothers Retail Partners LLC to liquidate all of its assets, including store inventory valued at $538.3 million.
This potential liquidation underscores the severity of the financial challenges facing Joann Fabrics and the urgency to find a viable solution.
Impact on Employees and Communities
The closure of 33 Joann stores in Michigan will have a significant impact on employees, customers, and the local communities. The company acknowledged the difficulty of this decision, recognizing the major impact it will have on team members and customers.
Joann has been a staple in many communities, providing crafting supplies and fostering a sense of creativity and community among its patrons.
Future of Joann Fabrics
As Joann navigates through its financial challenges, the future of the company remains uncertain. The focus will be on finding a buyer who can revitalize the business and continue to serve the crafting community. If a buyer is not found, the liquidation of assets will mark a significant shift in the crafting and sewing industry, leaving a void for many loyal customers.
Conclusion
The closure of 33 Joann stores in Michigan is a significant development in the crafting and sewing industry. The company’s financial struggles and repeated bankruptcy filings have led to tough decisions aimed at ensuring long-term sustainability.
As Joann seeks a buyer and navigates through these challenges, the impact on employees, customers, and communities will be profound. The crafting community will be watching closely to see what the future holds for this beloved retailer.
For more detailed information, you can read the full article on the Free Press website.
