These Joann stores in NY, NJ, CT are closing for good amid bankruptcy
Retail closures surge nationwide
Empty storefronts are becoming a familiar sight across the nation as experts predict a record 15,000 retail stores could close in 2024. FOX 5's Kendall Green speaks with John Carrol of Coresight Research and David Silverman of Fitch Ratings about the rise of e-commerce giants like Amazon and Shein, the challenges facing brick-and-mortar retailers like Party City and Walgreens, and what it will take to attract shoppers back to stores.
NEW YORK - Joann is closing nearly 500 stores nationwide, over half of its locations, due to weak demand and inventory shortages.
The Ohio-based company, which recently filed for Chapter 11 bankruptcy for the second time this year, cited "underperforming" stores as the reason.
Photo by Tim Leedy 4/11/12Jo-Ann Fabrics opens new store in Wyomissing. (Photo By Tim Leedy/MediaNews Group/Reading Eagle via Getty Images)
Despite emerging from bankruptcy, Joann struggled with operational challenges, including inventory issues that caused a 10% drop in stock levels.
The closures will likely impact employees, but it's unclear when they will happen and how many workers will be affected. The company is asking the court for approval to start the process.
"This was a very difficult decision to make, given the major impact we know it will have on our team members, our customers and all of the communities we serve," the company said in a statement sent to The Associated Press.
History of Joann
Dig deeper:
Photo by Tim Leedy 4/11/12Jo-Ann Fabrics opens new store in Wyomissing.The new Wyo store. (Photo By Tim Leedy/MediaNews Group/Reading Eagle via Getty Images)
Joann, formerly known as Jo-Ann Fabric and Craft, started as a single storefront in 1943 in Cleveland, Ohio before it grew into a national chain.
The company then rebranded itself with the shortened "Joann" name for its 75th anniversary.
By the numbers:
Joann currently operates around 800 stores across 49 states, here's a list of stores set to close in the Tri-State:
Connecticut:
- Brookfield – 143 Federal Rd
- Clinton – 274 E Main St
- Manchester – 1440 Pleasant Valley Rd
- Newington – 3105 Berlin Tpke
- Enfield – 136 Elm St
- Southington – 774 Queen St.
- Hamden – 2300 Dixwell Ave
- Milford – 1405 Boston Post Rd
- Torrington – 39 South Main St
- Norwich – 117 Salem Tpke
New Jersey
- Mays Landing – 3926 Festival At Hamilton
- Succasunna – 281-28 Rt 10E
- Toms River – 1379 Hooper Ave
- Mount Laurel – 66 Centerton Rd
- Deptford – 1120 Hurffville Rd
- Lawrenceville – 3371 Brunswick Ave
New York
- Clifton Park – 19 Clifton Country Rd
- Albany – 1440 Central Ave
- Niagara Falls – 2429 Military Rd
- Amherst – 1551 Niagara Falls Blvd
- Blasdell – 3540 Mckinley Pkwy
- Williamsville – 4101 Transit Rd
- Horseheads – 1530 County Route 64
- Kingston – 1385 Ulster Ave
- Westbury – 580 Old Country Rd
- West Babylon – 735 W Montauk Hwy
- Scarsdale – 965 Central Park Ave
- Lakewood – 318 E Fairmount Ave
- Cortland – 162 Clinton St
- Amsterdam – 4908 State Hwy 30
- Malone – 228 W Main St
- Olean – 2503B W State St
- Watertown – 1283 Arsenal St
- Hudson – 160 Fairview Ave
- Middletown – 88 Dunning Rd
- Poughkeepsie – 2600 South Rd
- Rochester – 3333 W Henrietta Rd
- Rochester – 3042 Ridge Rd W
- Canandaigua – 3225 State Route 364
- Fayetteville – 330 Towne Center Dr