HUDSON, Ohio – JOANN Fabrics, a well-known fabric and craft retailer, is set to close all its stores including those across the Northwest.
The decision comes as part of a plan to wind down operations and hold going-out-of-business sales at all store locations, pending Bankruptcy Court approval, a company statement said.
JOANN announced in its statement that a sale process concluded with GA Group and the Prepetition Term Loan Agent as the winning bidders.
The company’s leadership, board, advisors, and legal partners explored various options to keep JOANN in business but the company said they were unable to find a more favorable outcome.
The company said it is committed to working with the new owners to ensure a smooth transition during this challenging time.
