JOANN files for bankruptcy, plans Frisco store closing

JOANN will close in Frisco.

In a Feb. 23 news release, JOANN announced that all stores will be closing after GA Group and Prepetition Term Loan Agent were selected as the winning bidder to acquire substantially all of JOANN’s assets. JOANN filed for chapter 11 bankruptcy Jan. 15.

“JOANN leadership, our board, advisors and legal partners made every possible effort to pursue a more favorable outcome that would keep the company in business,” a release states.

Dates for store closures or changes to the website and app will be communicated as soon as possible, according to the company’s website.

All JOANN stores will remain open while conducting going out of business sales. JOANN gift cards will be accepted through Feb. 28. JOANN will not be accepting returns at this time.

The company sells items related to sewing, fabrics and arts and crafts offerings.

“We deeply appreciate our dedicated team members, our customers and communities across the nation for their unwavering support for more than 80 years,” a news release states.

JOANN was founded in 1943 and operates approximately 850 stores in 49 states, the website states.

• Closing TBD
• 2930 Preston Road, Ste. 800, Frisco
• www.joannrestructuring.com