Struggling fabric and crafts retailer, Joann, announced the closure of approximately 500 stores nationwide, including locations in Maryland, Virginia, Delaware, and West Virginia. The decision comes amidst financial challenges, including weak consumer demand and inventory shortages, that led the company to file for Chapter 11 bankruptcy protection for the second time within a year. Joann previously sought protection in March 2024 but continued operational challenges prompted a second filing in January. The company aims to sell the business and stated that closing “underperforming” locations is crucial to facilitate this process. The list of stores closing includes multiple locations in Maryland, Virginia, Delaware, and West Virginia. The closure of these stores will impact both consumers and employees in these areas. Joann encourages customers to visit their website for updates and information on the restructuring process. The company’s focus on selling and closing underperforming stores reflects their efforts to bounce back from financial turmoil.
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