Craft Store Joann Going Out of Business and Closing All Stores

After 80 years of helping people get the craft supplies they needed to complete projects Joann has announced that they are going out of business and preparing to close all store locations.

The Cedar Rapids Gazette reports the company filed for bankruptcy in January, the second time in just one year. At the time, it vowed it would keep all stores open. Then, earlier this month, the company announced that it planned to close 500 stores, more than half of its nationwide locations. The Gazette reports Iowa stores that were to be shut down as part of that announcement included Ames, Ankeny, Iowa City, Muscatine, Mason City, and Council Bluffs.

However, the company stated that after an auction held on Sunday, financial services group GA Group, along with Joann's term lenders, would begin winding down store operations and conduct going-out-of-business sales at all locations, according to the Gazette. The remaining Iowa stores that will close include Cedar Rapids, Dubuque, Davenport, Waterloo, and Clive.

So how long will Joann locations remain open? The Gazette reports that Joann.com and the mobile app will remain operational as going-out-of-business sales continue. Dates for store closures and will be posted as soon as possible. Joann stated that it would take a "number of weeks to complete our final sales."

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