Following a filing for Chapter 11 bankruptcy last month, Joann has announced that they have filed a motion seeking court authority to begin closing approximately 500 stores nationwide.
The closures would represent a majority of the company's stores, with the retailer currently operating over two dozen stores in Illinois, according to its website.
"JOANN is committed to providing our customers – the sewists, quilters, crocheters, crafters and other creative enthusiasts we have served for more than 80 years – with great service and assortments and to supporting our thousands of Team Members across the nation throughout this process," a statement from the company said.
It's unknown when possible store closures could begin, though the chain said the closures are part of "right-sizing" their store footprint.
The bankruptcy filing marks the second time the retailer has filed for Chapter 11 bankruptcy, with their previous filing coming less than a year earlier in March 2024.
The filing comes as a number of major chains announce closures.
Walgreens announced plans to close up to 1,200 “underperforming stores” by 2027, including some in the Chicago area. Kohl's announced 27 closures set for April of this year, two of which are in the Chicago area. Macy's announced it would close 66 stores nationwide. And Party City, a popular party and balloon supplies store, is closing hundreds of stores as it goes out of business.
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