Beloved fabrics and crafts retail chain closing 500 stores within months

Fabrics and crafts retail chain Joann is shuttering more than half of its 800 locations across the US in the months to come.

About 500 stores will close across all 50 states as Joann deals with bankruptcy.

‘This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers and all of the communities we serve,’ a Joann spokesperson told CNN

The spokesperson added that ‘right-sizing our store footprint is a critical part of our efforts to ensure the best path forward’.

Joann did not disclose a list of all the closing locations.

But court documents show that stores will close in every state, with the highest number in California, Florida, Indiana, Michigan, New York, Pennsylvania and Washington.

The announcement comes as Coresight Research projected that store closures this year will be double the figure in 2024.

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