Joann Fabrics will soon be no more.
After GA Group won a bid to acquire all of Joann Inc.'s assets in bankruptcy court, the company announced it would wind down and close every location of the Hudson-based craft store — pending bankruptcy court's approval this week.
Expect going-out-of-business sales soon at all Joann locations.
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"We are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the negative impact on all Joann Team Members, vendors, customers and communities," the company said in a statement. "Subject to court approval of the sale transaction, we expect to begin, or in some cases continue, going-out-of-business sales at all locations immediately."
Prior to announcing it would close all stores, Joann filed for bankruptcy twice, and earlier this month announced it would close 500 out of 800 shops across the country (including dozens of locations in Ohio).
Read more at joannrestructuring.com.
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