JOANN Inc. will close all store locations after GA Group and the Prepetition Term Loan Agent were selected as the winning bidders in a court-supervised auction. The sale includes substantially all of JOANN’s assets and is subject to final approval from the Bankruptcy Court.
The company announced its Chapter 11 filing on January 15, 2025, stating that the winning bidders plan to wind down operations and conduct going-out-of-business sales at all JOANN stores. Leadership said they explored other options to keep the business open but were unable to find a path forward.
JOANN expressed appreciation for its employees, customers, and communities for their support throughout the company’s more than 80 years in business.
