COLUMBUS, Ohio (WCMH) — Nearly all central Ohio Joann locations are expected to close amid the fabric and craft store’s second bankruptcy filing.
One of the largest arts and crafts retailers, Joann is planning to shutter 530 “underperforming” locations nationwide, according to court documents filed on Wednesday. The closure list includes more than 30 stores in Ohio, including the following:
- 1265 Polaris Parkway in Columbus
- 3880 Morse Road in Columbus
- 4600 W. Broad St. in Columbus
- 2747 Festival Lane in Dublin
- 2891 Taylor Road in Reynoldsburg
- 1216 N. Memorial Drive in Lancaster
“A careful analysis of store performance and future strategic fit for the company determined which stores should remain operating as usual at this time,” a Joann spokesperson told NBC4’s parent company Nexstar. “Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for Joann.”
Once completed, Joann’s plan will leave only one central Ohio location in operation, a store in Heath at 789 Hebron Road. Until then, each impacted Joann location is holding a going-out-of-business sale beginning on Saturday that will last for several months.
Joann, which is based in Hudson, Ohio, named each store to the closure list after commencing Chapter 11 proceedings on Jan. 15 to facilitate a sale to Gordon Brothers Retail Partners. Big Lots, another Ohio-based chain, also recently closed a sale agreement with Gordon Brothers, who then auctioned off the leases of more than 500 Big Lots stores.
The retailer said the transaction is subject to higher and better offers, with the company soliciting alternative bids. Founded in 1943, the chain operates about 800 stores and 40 distribution centers. The company employs 19,000 workers, 3,400 of whom are full-time and 15,600 are part-time.
Joann previously filed for bankruptcy in March 2024, when it originally cited issues with increasing interest rates and decreasing sales after a spike in sales during the COVID-19 pandemic in 2021 and 2022. Despite attempts in June 2023 to reduce costs, the company held over $1.06 billion in funded debt at the time of filing.
The company exited its Chapter 11 bankruptcy and became a private company nearly a month later. Joann started to implement its next business plan but hit a major roadblock when it encountered inventory challenges and sluggish retail sales. Those factors resulted in major debt, which now sits at about $615 million for the company.
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