Will JOANN Fabric Be Closing and Going Out of Business in WA?

I have been seeing harrowing reports that one of my favorite retail stores has been closing locations across the country. You don’t understand: if this store goes out of business, I will be devastated.

The store in question is JOANN Fabrics. I love craft stores. I’ve always been a crafty chick, but I had mostly shopped at stores like Craft Warehouse and Michael’s. I remember when Craft Warehouse permanently closed over a decade ago, and I am still upset about it.

I became a big fan of JOANN back when my daughter became a Daisy Girl Scout around 7 years or so ago. They give Girl Scout parents a sweet discount there. My kiddo is no longer a Girl Scout, so I now use their coupons to save on items. Over the years, I’ve found different reasons to keep being a customer here. Lately, I’ve become obsessed with sewing and learning how to quilt, so I go there frequently for their deals on fabrics.

In late 2023, I read several articles in notable media outlets like The Street and The Business Journals reporting that JOANN Fabrics seems to be headed toward bankruptcy.

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I think that the alerts went up because their credit risk score went down to 1. There is a high likelihood that a company will file for bankruptcy when a score gets that low. But remember, that’s just a prediction, not a fact.

That being said, there have been a few JOANN locations that permanently closed, but Kennewick just opened up a new location last June.

Fortunately, the power-ups at JOANN’s told a CBS station that there are no plans to close up all of their stores.