Joann to Close 500 Stores, Including Multiple Locations in Southern California
NEW YORK — Joann, the popular fabric and crafts retailer, announced it will close about 500 of its stores nationwide, which accounts for more than half of its current locations. This move comes as the company grapples with operational challenges, including sluggish consumer demand and inventory shortages.
In a statement, Joann expressed the difficulty of the decision, acknowledging the impact on its employees and communities but emphasized that closing underperforming stores is necessary to move forward with its business plan. The company is in the process of filing for bankruptcy protection for the second time in less than a year, following a Chapter 11 filing in January. Joann is now looking to sell the business and hopes that streamlining its store footprint will improve its chances of securing a sale.
Currently, Joann operates around 800 stores across 49 states, and while the exact closure timeline and employee impacts are still unknown, the retailer has identified the locations that will be closed, including multiple in Southern California.
The Southern California locations set to close include:
Long Beach, 3588 Palo Verde Ave.
La Verne, 2086 Foothill Blvd.
Huntington Beach, 9901 Adams Ave.
Alhambra, 2115 W Commonwealth Ave.
La Canada, 2160 Foothill Blvd.
Lakewood, 5255 Lakewood Blvd.
Torrance, 21800 Hawthorne Blvd.
Northridge, 19819 Rinaldi St.
Buena Park, 5885 Lincoln Ave.
Irvine, 2170 Barranca Parkway
Woodland Hills, 22914 W Victory Blvd.
Glendale, 1000 South Central Ave.
Fullerton, 3300 Yorba Linda Blvd.
Santa Clarita, 26583 Carl Boyer Drive
Orange, 1411 N. Tustin St.
Foothill Ranch, 26742 Portola Parkway
Sherman Oaks, 13730 Riverside Drive
Oxnard, 2351 N Rose Ave.
Simi Valley, 2242 Tapo St.
Corona, 2250 Griffin Way
Temecula, 40462 Winchester Road
Redlands, 1625 W Lugonia Ave.
Rancho Mirage, 72765 Dinah Shore Drive
Hesperia, 12779 Main St.
Riverside, 3635 Riverside Plaza Drive
Hemet, 2981 West Florida Ave.
Chino, 5545 Philadelphia St.
Oceanside, 2227 S El Camino Real
Poway, 12313 Poway Road
San Diego, 3633 Midway Drive
San Marcos, 177 South Las Posas Road
Joann's financial struggles have been exacerbated by competition from rivals like Hobby Lobby and large retailers like Target, who also offer craft supplies. The company’s second bankruptcy filing and the decision to close stores reflect ongoing challenges, including inventory shortages that have impacted product availability.
Joann’s restructuring efforts also involve the proposed sale of the business, with Gordon Brothers Retail Partners reportedly backing a "stalking horse" bid agreement to help facilitate the process. The company hopes that the closure of underperforming stores will help stabilize the business as it moves forward with its plans.
