JOANN Fabrics and Crafts at Montgomery Commons in Montgomery Township. (Credit: Google Street View)
Closure is more than half of its current nationwide footprint.
The Montgomery Township fabric and crafts seller JOANN store at Montgomery Commons on Welsh Road has landed on the closure list as one of the 500 stores announced Wednesday to shutter across the U.S. amid bankruptcy.
According to the Associated Press, the Hudson, Ohio-based retailer filed for Chapter 11 bankruptcy protection twice within a year, blaming sluggish consumer demand and inventory problems. It could not make it as a private company coming out of its first bankruptcy filing in March 2024, and more operational challenges led it to a second bankruptcy last month.
“As part of the ongoing Chapter 11 process and our efforts to maximize the value of the business, JOANN has filed a motion seeking court authority to begin closing approximately 500 stores across the nation. This was a very difficult decision to make, given the major impact we know it will have on our Team Members, our customers and all of the communities we serve," said JOANN in a statement Wednesday. "A careful analysis of store performance and future strategic fit for the Company determined which stores should remain operating as usual at this time. Right-sizing our store footprint is a critical part of our efforts to ensure the best path forward for JOANN.”
JOANN operates about 800 stores in 49 states.
See all the closures on the company's restructuring website.
Read more on the history of JOANN and its bankruptcies here.
