JOANN Fabrics, a beloved store for craft lovers and DIY enthusiasts, is facing some big changes. The company has recently announced plans to close about 500 of its stores across the United States, including 18 locations in Texas. With these closures set to begin in mid-February, many shoppers and craft fans are left wondering what this means for their local JOANN stores.
The Brief
As JOANN Fabrics deals with its second bankruptcy filing, it has revealed plans to shut down a significant number of its locations. With over 850 stores nationwide, losing 500 means they will cut nearly 59% of their stores. This move comes as the company struggles with various financial challenges, and a court hearing is scheduled to approve these closures soon.
Closing 500 Stores
The decision to close so many stores isn’t taken lightly. JOANN cited a combination of tough economic times and financial problems as the reasons behind this major restructuring effort. The company is trying to adapt to changing market conditions and maximize the value of its remaining stores. They hope that by downsizing, they can emerge stronger and more focused on what really matters for customers.
What JOANN Stores Are Closing in Texas?
If you’re in Texas, you might be asking yourself, “Is my local JOANN closing?” Here are the 18 locations that are slated to shut down:
- Houston – SW 59
- San Antonio – Bandera Road
- Dallas – Central Expressway
- Fort Worth – Hulen Street
- Austin – N. Lamar Boulevard
- El Paso – Gateway West
- McKinney – S. Central Expressway
- Corpus Christi – S.P.I.D.
- Beaumont – College Street
- College Station – Texas Avenue
- Longview – Loop 281
- Lufkin – South Chestnut
- Waco – Lake Shore Drive
- Odessa – E. 42nd St.
- Texarkana – New Boston Rd.
- Brownsville – International Blvd.
- League City – I-45
- Kingwood – W. Lake Houston Parkway
- Southlake – S. Carroll Ave.
The going-out-of-business sales for these stores are set to begin on February 15th, so if you’re looking to find some crafting supplies at discounted prices, now might be a good time to stop by!
What They’re Saying
Many employees and customers are reacting to the news of the closures with sadness and confusion. Employees worry about job security, and customers are concerned about where they will find their favorite crafting materials in the future. A spokesperson for JOANN mentioned, “We understand how much these stores mean to our communities. This was not an easy decision, but we believe it is necessary for the survival of our business. We’re committed to supporting our team during this transition.”
The Backstory
JOANN Fabrics has been a staple for crafters and hobbyists for many years, providing a wide range of materials from fabrics to crafting tools. However, like many retailers, JOANN has felt the impact of changing shopping habits, especially with more customers turning to online shopping. Their first bankruptcy filing came in 2021, and while they managed to keep most of their stores open at that time, it seems that the challenges have continued.
With a debt load exceeding $2.44 billion, JOANN is now working hard to navigate through these challenges and hold on to what they can. The future of retail is changing rapidly, and companies must adapt to survive.
