JoAnn Fabrics to close all US stores (Update)

[QChawks]

IOWA CITY, Iowa — JoAnn Fabrics filed paperwork Wednesday for its latest bankruptcy claim.

The filings show hundreds of stores will shut down.

Six store locations in Iowa will be closed:

• Ames
• Ankeny
• Iowa City
• Muscatine
• Mason City
• Council Bluffs

According to Newsweek, the arts and crafts store initially filed for bankruptcy in March 2024.

The retailer also had $1.2 billion in long-term debt as of December 2023, according to earnings reports.

 

[Tenacious E]

IOWA CITY, Iowa — JoAnn Fabrics filed paperwork Wednesday for its latest bankruptcy claim.

The filings show hundreds of stores will shut down.

Six store locations in Iowa will be closed:

• Ames
• Ankeny
• Iowa City
• Muscatine
• Mason City
• Council Bluffs

According to Newsweek, the arts and crafts store initially filed for bankruptcy in March 2024.

The retailer also had $1.2 billion in long-term debt as of December 2023, according to earnings reports.

View embedded media

If Joann Fabrics can't make it ankeny, where in the hell would it possibly be successful?

 

[sabula]

If Joann Fabrics can't make it ankeny, where in the hell would it possibly be successful?

Where are scruffy, rico, and here 4 a day going to get their satin fabrics to sew and stitch now? They must be just sooo upset...

 

[Tenacious E]

Where are scruffy, rico, and here 4 a day going to get their satin fabrics to sew and stitch now? They must be just sooo upset...

Are they from ankeny? Having lived here 20 years, it is full of arts and crafts moms and such. Seems like their wheelhouse.

 

[seminole97]

 

[LuciousBDragon]

IOWA CITY, Iowa — JoAnn Fabrics filed paperwork Wednesday for its latest bankruptcy claim.

The filings show hundreds of stores will shut down.

Six store locations in Iowa will be closed:

• Ames
• Ankeny
• Iowa City
• Muscatine
• Mason City
• Council Bluffs

According to Newsweek, the arts and crafts store initially filed for bankruptcy in March 2024.

The retailer also had $1.2 billion in long-term debt as of December 2023, according to earnings reports.

View embedded media

More Americans need to learn cross-stitch yo

 

[QChawks]

Mrs QC is gonna bummed

 

[lonestar50]

Mrs QC is gonna bummed

View embedded media

My wife will be bummed as well but probably excited for all the deals she will get at the going out of business sales

 

[desihawk]

sad to hear...do they even have serious competitors?

 

[EagleHawk]

Now Cedar Rapids/Lindale will have the empty Hy-Vee and JoAnn sitting on that lot. Time for some grand redevelopment options there.

 

[Moral]

sad to hear...do they even have serious competitors?

Michael's and Hobby Lobby. And the Internet.

 

[desihawk]

Michael's and Hobby Lobby. And the Internet.

i do see business overlap but i was given the impression that for fabrics yarn sewing type products and services joann is the place without peers…apparently (and hopefully) that’s not the case

 

[IAFB2021Champs]

Now Cedar Rapids/Lindale will have the empty Hy-Vee and JoAnn sitting on that lot. Time for some grand redevelopment options there.

I never understood why they closed that hyvee down. I don’t see how it wasn’t successful. When I lived in Marion, that was the hyvee I used, it always had a bunch of people in it.

 

[EagleHawk]

I never understood why they closed that hyvee down. I don’t see how it wasn’t successful. When I lived in Marion, that was the hyvee I used, it always had a bunch of people in it

From what I understand, Hy-Vee didn't own the building, and they were tired of paying high rent. They planned to move north to the new C Ave/Tower Terrace corner but wanted a direct road from the interstate before they built. The Tower Terrace project is a clusterF that may be complete in 20 years, and now the Hy-Vee lot on that corner is for sale as Hy-Vee is focused on expanding farther east.

 

[IAFB2021Champs]

From what I understand, Hy-Vee didn't own the building, and they were tired of paying high rent. They planned to move north to the new C Ave/Tower Terrace corner but wanted a direct road from the interstate before they built. The Tower Terrace project is a clusterF that may be complete in 20 years, and now the Hy-Vee lot on that corner is for sale as Hy-Vee is focused on expanding farther east.

Hmm interesting. Yeah that tower terrace project is a mess.
Always find it a bit comical when a building owner basically forces someone out by raising rent and then the building sits empty for years after.

 

[ping72]

It should have been Hobby Lobby.

Why couldn’t it have been Hobby Lobby??

 

[Nole Lou]

Quite sad to me. The internet isn't that helpful when you are in the middle of a project and realize you need something to finish it. Plus, anyone with kids knows the experience of finding out at 7pm that you need glue sticks or a trifold board for the morning.

Between Michael's, Hobby Lobby and WalMart/Target, this probably doesn't leave a craft/DIY desert out there...but Joanns was the best of them. Also, when it was just a fabric store back in the 80s, it was like my mother's home away from home, so there's a bit of personal attachment to it.