(Clarkston, WA) Joann, the fabrics and craft store company with two locations in our region, has announced plans to close approximately 500 stores across the country as it seeks to reorganize during Chapter 11 bankruptcy protection.
In January, the 80-year-old company announced that it has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to facilitate a sale process to maximize the value of its business.
If approved by the court, the company plans to close the 500 stores. Going-out-of-business sales could begin at the locations as soon as this Saturday. The list of locations to be closed includes the Clarkston and Moscow locations. The retailer is also closing one other Idaho store, in Boise, along with 20 other locations in Washington.
