Arizona Retailer Announces Bankruptcy. Will They Close Stores?

• JoAnn's Fabrics has been in business since 1943
• JoAnn's Fabrics announced they're filing for Chapter 11 Bankruptcy
• Some JoAnn's stores in Arizona are closing

It's hard to tell if this is another victim of the post-pandemic world, the changing face of brick-and-mortar businesses as they compete with online retailers, or if the world is trending away from home-made goods.

Whatever the cause, another large retailer has filed for Chapter 11 bankruptcy. JoAnn Fabrics has been known for decades as the perfect stop for anything you could imagine craft-wise. It appears they're one more casualty of our changing world.

JoAnn's Stores in Arizona

If you need fabric, sewing supplies, notions, knitting needles, yarn, wedding supplies—just about anything used to craft and create with your own hands—JoAnn's is the place to go. With about 815 stores nationwide, you don't have to travel far to get what you need for any project.

Even my hometown, Sierra Vista, in Cochise County, has one. With the announcement of bankruptcy and the reorganization, JoAnn put our store on the chopping block, selling off the stock at a discount.

However, the fate of stores around the state is still in flux. Other stores could remain standing as the chain cuts a whopping $500 million.

Will JoAnn Stores Close More Locations in Arizona?

What will happen with JoAnn’s stores throughout Arizona? Right now, it’s a mixed bag. The company has been clear that they’re not planning a total shutdown. Keep those knitting needles crossed that many of the stores will remain open.

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In the crafting world, JoAnn’s has been like that trusty pair of scissors you can’t do without. They've been our go-to crafting store since 1943. With any luck, Arizona will keep as many around as possible.

Will JoAnn's Piece Together a Return?

Right now, JoAnn’s financial fabric seems a bit frayed; they’re stitching together a strategy to keep the creativity flowing. Don't toss out those DIY projects just yet. As the dust settles, there will be more updates to come.